UK
Johnson Service Group (JSG) has acquired the entire share capital of Lincolnshire-based Ashbon Services for £6.25m. The group said the deal is on a debt-free, cash-free basis.
Ashbon serves the catering, hotel and leisure industries from its processing plant in Grantham. It reported revenues of £4.5m for the year to October 31, 2014 and has a history of year-on-year revenue growth.
The acquisition is expected to be immediately earnings enhancing and complements JSG’s Stalbridge business, London Linen, acquired earlier this year, and Bourne, acquired in 2014.
Chris Sander, JSG chief executive, said: "Ashbon is a strong business and it shares our core values of quality, reliability and service. Its 20,000 sq ft processing plant will enable us to improve the service we offer to our customers in the Midlands and North of England.
"This acquisition furthers our strategy of buying businesses that can be integrated easily into the wider Johnson Service Group."
ACQUISITION: Chris Sander, JSG chief executive, said: "Ashbon is a strong business and it shares our core values of quality, reliability and service"
