Investment in JLA Limited

RNS Number : 2839J

HG Capital Trust PLC

26 March 2010

 



Set out below is the text of a press release issued today by HgCapital, which manages the investment portfolio of HgCapital Trust plc alongside those of other institutional clients. The Trust is a listed investment trust which provides an efficient vehicle for private investors and institutional investors to participate in all HgCapital's investments.

HgCapital invests in JLA Limited, the UK's largest laundry equipment supplier

London, 26 March 2010:  HgCapital, the European sector focused private equity investor, is pleased to announce that it has today acquired a majority stake in JLA limited, the UK's largest commercial laundry equipment supplier. HgCapital Trust plc is contributing £12.1m of the total consideration. Following this investment and the dividend payable on 31 March, HgCapital Trust plc holds approximately 34% of net assets in liquid assets available for deployment in new investment opportunities.

JLA was founded in 1973 and has evolved to become one of the most innovative companies in the worldwide laundry industry. It designs, installs, maintains and repairs laundry equipment used by over 18,000 customers who either buy the equipment outright or rent it from JLA. It has also developed proprietary technology systems to help its clients operate safer and more energy efficient laundries.

Commenting on the acquisition, Matthew Rourke, Partner and Head of the Business Services Team at HgCapital said: "JLA is a market leading business with significant growth opportunities and we are delighted to support the company in the next stage of its development."

For further details:

HgCapital Trust	Roger Mountford	[phone]
HgCapital	Matthew Rourke	[phone]
Maitland	Neil Bennett	[phone]

About JLA Limited

JLA was founded in 1973 and has evolved to become one of the most innovative companies in the worldwide laundry industry. JLA has a passion and enthusiasm for what it does and constantly strives to offer its customers the best laundry solutions available.

This has led to developments such as Sensor Activated Fire Extinguishing ("S.A.F.E.") system dryers, launched to combat the increasingly common occurrence of fires breaking out in dryer drums, and, more recently, the revolutionary OTEX laundry system, which dramatically reduces energy costs and kills bacteria, viruses and superbugs on all wash cycles.

JLA is focused on customer care and goes to great lengths to fully understand customer requirements and the demands of their individual businesses. JLA recognises that reliable maintenance and repair back-up is paramount to all of them and has established a national service centre to offer customers unrivalled fast, efficient service.

Just some of the reasons why from care homes to hospitals, from hotels to housing schemes, from military bases to prisons JLA is rated as the UK's No 1 commercial laundry equipment supplier.

For further details, see www.jla.com 

About HgCapital Trust plc

HgCapital Trust plc is an investment trust whose shares are listed on the London Stock Exchange. The trust gives investors exposure to a portfolio of high-growth private companies, through a liquid vehicle.  This portfolio is managed by HgCapital, an experienced and well-resourced private equity firm with a long-term track record of delivering superior risk-adjusted returns for its investors. The Trust has won the Investment Week Private Equity Investment Trust of the Year every year since 2005.

For further details, see www.hgcapitaltrust.com

About HgCapital

HgCapital is a sector focused private equity investor in the European mid-market.  We focus on investments with an enterprise value in the range of £50-£500 million.  Our business model combines sector specialization with dedicated, pro-active support to our portfolio companies as well as the corresponding management expertise across all phases of the investment process.

HgCapital manages £3 billion for some of the world's leading institutional and private investors.

For further details, see www.hgcapital.com

 

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