Star Mayan Limited Reaches Agreement for Acquisition by K-Bro Linen Systems

STAR Capital has declared the sale of its majority holding in Star Mayan Limited, the parent company of Synergy LMS Group, to K-Bro Linen Systems. Synergy LMS Group is a prominent commercial laundry services provider in England, catering to various sectors including healthcare, hospitality, and airlines through a network of facilities nationwide. STAR initially acquired its majority share in Synergy LMS Group from Steris Plc in July 2016. This transaction was the inaugural investment of the STAR III Fund. STAR has worked alongside Synergy's management team to implement a robust growth strategy, leveraging both organic expansion and strategic acquisitions. The group has focused on increasing capacity, boosting operational efficiencies, and exploring new services and markets. Synergy LMS Group is appreciated for: its delivery of essential, stable services under inflation-linked contracts with substantial customer loyalty; its substantial market presence and high entry barriers; and its reliable revenue stream from enduring client relationships. The concluding phases of the transaction are still subject to usual closing conditions.