WASH Multifamily Laundry Systems LLC, a portfolio company of U.S. private equity firm CHS Capital, has bought the multifamily laundry route division of Harco Co Ltd, a laundry service company based in Mississauga, Ontario. The financial terms of the acquisition were not released. WASH, a laundry facilities management service company located in El Segundo, California, said the deal will strengthen its presence in the greater Toronto area. The company’s Canadian subsidiary, Coinamatic Canada, which undertook the acquisition, was bought by WASH in early 2013.
WASH Laundry Acquires Harco’s Multifamily Route Division in Canada
Acquisition Strengthens Presence in Greater Toronto Area
EL SEGUNDO, Calif., Sept. 10, 2014 /PRNewswire/ — WASH Multifamily Laundry Systems, North America’s favorite laundry facilities management service company, announced today that its subsidiary, Coinamatic Canada, acquired the multifamily laundry route division of Harco Co. Ltd., a Canada-based laundry service company. This acquisition will strengthen its presence in the Greater Toronto Area.
“Our acquisition of Harco is another step in our company’s overall growth strategy and will enable us to create greater efficiencies for both our organization and for our customers,” says Adam Coffey, WASH’s president and CEO.
Gord Alderdice, president of Coinamatic comments, “With a combined 121 years of experience in providing route laundry services, we look forward to working with Harco to make this a successful transition and to welcoming their customers to our family.”
Founded in 1961, Harco provides industrial and commercial laundry equipment in addition to its multifamily laundry services. The company will retain its distributorship operations.
“This is a good fit for both companies,” says Bob Stevens, owner of Harco. “We expect the acquisition to be seamless for our multifamily customers and know that Coinamatic will provide the highest quality equipment and services to meet their needs,” Stevens says.
WASH is a leader in technology-advanced, eco-friendly laundry room operations. Its “best-in-class” facilities management services can be found at apartment properties, condos, college and university residence halls, military bases and other multi-housing locations. More than 5 million people do their weekly laundry at a WASH facility. WASH is a privately held company founded in 1947 and based in El Segundo, Calif. and operating in 15 U.S. states and all Canadian provinces. Through its subsidiary Coinamatic Canada, WASH also has a commercial laundry distributorship and ParkSmart, a division that manages parking facilities. For more information, please visit www.washlaundry.com or call 800-421-6897, ext. 1600.
WASH Multifamily Laundry Systems
SOURCE WASH Multifamily Laundry Systems
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