BDO provided financial due diligence on Clean Linen’s (“Clean”) acquisition of Stevens Hatherley Holdings Limited (trading as Paragon Laundry). Paragon is one of the UK’s largest independent linen and garment rental providers and a shareholder of the Brilliant Laundry Group (a joint venture in which Clean is also a shareholder). Paragon, like Clean, services many of the UK’s leading hospitality and work wear clients across a large geographical region of the UK. The acquisition broadly doubles the size of the CLEAN business.
Our work involved undertaking acquisition financial due diligence on Paragon and on the enlarged group for an associated debt raise.
"BDO provided helpful, robust and clear advice on our recent transaction, the acquisition of Paragon. The team provided useful insight and (most importantly) clear and unambiguous opinions on the key deal issues. Professional and responsive, we consider BDO to be a key partner in the ongoing development of our business and we look forward to working with them again.”
Martin Oxley, CFO, Clean Linen