Elis Acquires Wasned in Dutch Market Expansion
Deal News | Oct 31, 2024 | Globenewswire
Elis, a recognized leader in circular services at work, has announced the acquisition of 100% of Wasned, a laundry services provider in the Netherlands. Wasned, which operates a modern plant near Utrecht and employs about 40 people, caters primarily to clients in the hospitality sector. This move follows Elis's acquisition of Moderna earlier in 2024 and aims to bolster the company's presence in the growing Dutch hospitality market. The acquisition is set to be consolidated from November 1, 2024, and will see the current management team of Wasned staying to help drive future business development in the country. In the previous year, Wasned reported revenues of approximately €7 million. Elis, operating in 30 countries and known for its rental-maintenance business model optimized with traceability technologies, continues to innovate in services addressing protection, hygiene, and well-being needs, all while advancing environmental goals.
Sectors
- Hospitality
- Industrial Laundry Services
- Circular Services
Geography
- Netherlands – The acquisition of Wasned by Elis takes place in the Netherlands, a strategic market for Elis in its European operations.
- France – Elis is headquartered in Saint-Cloud, France, indicating its French origins and operational base.
Industry
- Hospitality – Wasned primarily serves clients in the hospitality sector, indicating its focus on providing services to hotels, restaurants, and similar establishments.
- Industrial Laundry Services – Wasned’s business as a laundry service provider specifically caters to the cleaning and maintenance needs of hospitality clients, placing it within the industrial laundry services industry.
- Circular Services – Elis is recognized for its circular services model, emphasizing sustainable practices in rental and maintenance through innovative technologies.
Financials
- €7 million – Wasned reported a revenue of approximately €7 million in 2023.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Elis | Acquiring Company | Company | Elis is a multinational specializing in circular services and known for its rental-maintenance model. |
| Wasned (Laundry Services B.V.) | Target Company | Company | Wasned is a Netherlands-based industrial laundry service provider focused on the hospitality market. |
| Moderna | Other Company | Company | Moderna is another company recently acquired by Elis in the Netherlands prior to the Wasned acquisition. |