NIBC advises linen leader on acquisition of Dutch rival

Client
For 40 years, Blycolin has provided hotels, restaurants and spas in the Netherlands, Germany, Belgium, Luxembourg and Poland with top quality bed, bath and table linen. Its services include supplying new and rented linen, professional laundering and collecting and transporting textiles.

Case
NIBC was sole advisor to linen specialist Blycolin when it acquired local Dutch competitor Womitex. The acquisition strengthens Blycolin's position in Northern Europe, particularly in its key Dutch and German markets.

Solution
Blycolin and Womitex have operated in the same industry, serving the same markets for 30 years. So it was a logical next step for Blycolin to acquire its smaller competitor from its private equity owners in what is a consolidating sector.

Womitex, founded in 1982, also sells and rents linen to the hospitality and catering industries in the Netherlands, Belgium and Germany. But it was Blycolin that pioneered the concept of renting linen to the hospitality industry, in 1972. Since then its offering has expanded to include professional laundry services and customised collection and delivery of linen so its clients never run short on towels, tablecloths or clean sheets.

Together, the two companies will be a very strong player in the textile rental markets, holding the leading position in the Benelux.

"Blycolin is an international specialist in its field, and it wanted a financial advisor with specialist knowledge of the textile management industry to advise it on the acquisition," says NIBC's Arwolt van Mameren, Associate Director in the M&A team.

"NIBC had already acted as sell-side advisor to AAC Capital Partners when it sold CleanLeaseFortex to Egeria, and we provided the financing for that transaction. It showed we have the necessary know-how for this type of transaction in this specific sector, and that we can offer a total solution from advice to execution to financing."

NIBC's M&A team put its expertise to work to ensure the smooth purchase of Womitex from previous owners Rabo Private Equity and Berk Partners, and to secure the most favourable financing for Blycolin with its existing bank. The transaction was successfully closed in July 2013.