Elis Expands Network with Ernst Acquisition in Germany
Deal News | Dec 19, 2024 | Globenewswire
Elis, a global leader in circular services for workplaces, has announced its acquisition of Wscherei Ernst GmbH in Germany, reinforcing its presence in the country's hospitality sector. With this move, Elis continues its growth strategy in Europe, enhancing its service offerings and expanding its geographical reach. Ernst, which generated approximately €17 million in revenue in 2023, operates two laundries in Erbach, serving the southern regions of Germany and northwest Austria. The acquisition aims to bolster Elis’ network, particularly in hospitality, while Ernst's existing management will remain onboard, ensuring continuity and leveraging Elis' resources and technologies to further grow the business. The integration of Ernst into Elis' financial accounts will commence from January 1, 2025.
Sectors
- Laundry Services
- Hospitality
- Healthcare Services
Geography
- Germany – Ernst operates in Germany, and the acquisition by Elis strengthens its position in the German market.
- Austria – Ernst services extend to northwest Austria, making it relevant to the geographical scope of the acquisition.
Industry
- Laundry Services – This sector includes companies providing laundry and linen services, which is the primary business of Ernst GmbH.
- Hospitality – Ernst primarily serves clients in the hospitality sector, making it a significant part of the article's context.
- Healthcare Services – Ernst also serves healthcare clients with rental-maintenance services, highlighting its role in this industry.
Financials
- 17 million – Annual revenue of Wscherei Ernst GmbH in 2023.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Elis | Acquirer | Company | Elis is a global leader in circular services and has acquired Wscherei Ernst GmbH to expand its operations in Germany. |
| Wscherei Ernst GmbH | Target Company | Company | A Germany-based laundry service provider focusing on the hospitality and healthcare sectors. |
| Nicolas Buron | Director of Investor Relations, Financing & Treasury | Person | Nicolas Buron is responsible for handling investor relations for Elis. |