UK-based commercial laundry operator Clean Linen Services has received an investment from MML Capital Partners. No financial terms were disclosed. In addition to the funding, Luke Jones and Bal Johal of MML have been added to Clean’s board.
MML Capital Partners (“MML”) is delighted to announce it has made a significant partnership capital investment into CLEAN Linen Services (“CLEAN”), the leading commercial laundry operator. Over the last 10 years CLEAN has achieved exceptional growth, with sales trebling from £10m to £30m, and made significant investment into its market leading laundry facilities. The investment from MML will facilitate the next phase of CLEAN’s ambitious growth plans.
CLEAN was founded in 1886 and has remained in family ownership for over 120 years. The business is led by CEO Jason Miller, who has guided the business through its recent growth phase. MML will work closely with Jason and CFO Martin Oxley to support them in continuing to expand CLEAN.
MML Partner Luke Jones commented: “The demand for commercial laundry services continues to increase, driven by growth in the hospitality sector. Well invested providers such as CLEAN are well placed to capture this growth, and drive quality and efficiency standards in the industry. We are excited about partnering Jason and his team through the next phase of CLEAN’s growth.”
CLEAN CEO Jason Miller said: “MML have great experience of supporting management teams to grow value in their businesses. This combined with a great cultural fit with CLEAN made them an ideal investment partner. This partnership will enable CLEAN to continue its growth and development plans enabling the business to fulfil its ambitions.”
Luke Jones, Bal Johal and Rob Devonshire led the deal for MML. Luke and Bal will both join CLEAN’s board. The transaction was supported CLEAN’s incumbent lender Lloyds Bank.
For further information about CLEAN, please visit the company’s website www.CLEANservices.co.uk