Services firm JLA is set for a new phase of growth after being acquired by private equity firm Cinven for an undisclosed sum.
Headquartered in Ripponden in West Yorkshire, JLA provides commercial laundry, catering and heating solutions to more than 25,000 small and medium-sized enterprises.
Now in its 45th year of trading it employs around 900 people including 300 engineers.
Cinven said its team identified JLA as an attractive investment opportunity given its resilient business model, attractive markets, strong positioning and financial performance.
On the latter, JLA has delivered double-digit annual revenue and EBITDA growth organically and through acquisition since 2013.
Stephen Baxter, chief executive, has overseen JLA’s growth to date.
He said: “Our focus as a company is on investing in innovative product offerings and expanding our business through both organic growth and acquisitions.
“The Cinven team has significant experience of investing in and building businesses in the UK and internationally and I am certain they will be instrumental in our future successes.
“JLA is proud of the strength and longevity of its customer and supplier relationships which have underpinned the growth of our business so far. We work hard to keep critical areas of our customers’ businesses running smoothly, safely and effectively – whether it’s in the laundry, kitchen or boiler room. “
Rory Neeson, Partner at Cinven, said “Under the leadership of its strong management team, JLA is a well-run, defensive business with a diversified and loyal customer base.
“We believe JLA has an excellent platform to support its further growth ambitions, including its national engineering platform and sales and marketing capabilities.”