Carner advises Lindström Group in the acquisition of Pohjolan Tekstiilipalvelu

In Short

Carner advises Lindström Group in the acquisition of Pohjolan Tekstiilipalvelu

Lindström Group’s subsidiary Comforta Oy, which serves hotels, restaurants and the health care sector, has acquired the entire shareholding and business of Kajaani-based Pohjolan Tekstiilipalvelu Oy. After the transaction, the entire personnel of Pohjolan Tekstiilipalvelu will continue their employment in Comforta.

The Whole Story

Founded in 1976, Pohjolan Tekstiilipalvelu is a family-owned textile service company. The company provides laundry and textile services especially to local companies and organizations within industrial, hotel and restaurant, and care sectors. Pohjolan Tekstiilipalvelu’s services cover hotel and restaurant textiles, workwear, mats and hygiene products. Additionally, the company provides maintenance services of companies’ own textiles.

Comforta Oy is an international company specialized in hotel, restaurant and healthcare textile services. The company operates in Finland, Sweden, Estonia and Russia, employing over 500 persons. Comforta has a revenue of approximately 49.4 million euros.

Comforta is part of Lindström Group. The family company Lindström is one of the oldest companies in Finland and one of the leading textile service companies in Europe with over 170 years of experience in the area. Lindström Group’s year 2020 sales were EUR 388 million and the group employed 4,600 persons.

Lindström has not previously had a local presence in Kainuu. Instead, the businesses in the area have been served through the service center located in Oulu. Over the coming years, Comforta plans to significantly develop the operations of the Kajaani service center.

“In our operations, local presence is a core value to us in many ways. We wish to be a desired partner, providing our customers with first-class, seamless, comprehensive services, wherever they are, and the presence in Kainuu will bring us closer to our customers. We are also committed to further develop the operation of the Kajaani service center. For example, the existing equipment and machinery in the service center already enable the increase of volume. Besides the impact on employment, we will, through our services, be enabling local businesses and entrepreneurship in various sectors, such as tourism and healthcare”, comments Pasi Saarinen, Lindström Finland’s Country Manager.

“It was important to us to find a buyer with strong knowledge and ability to further develop our services and customerships. As a Finland based, family-owned company, long-term customer relationships and continuous development are strongly included in Lindström’s values, culture and strategy. We are positive that the transition of our operations to Lindström will ensure that our customers will continue to receive reliable, high quality textile services”, says Terhi Tuomainen, CEO of Pohjolan Tekstiilipalvelu.

Carner Corporate Finance advised Lindström Group throughout the acquisition process.