Lindström accelerates future growth in Asia by acquiring the Chinese operations of Cintas, the world´s biggest textile services company
Finnish multinational textile services group Lindström is to acquire the entire Cintas operations and personnel in China to support the realization of its vision 2025 in Asia. The new entity will be a clear market leader in workwear rental and cleanroom business in China´s fast-growing market. The acquisition will also increase Lindström´s geographical reach in the area and expand the service portfolio to new service lines.
“Our focus in the Asian market is higher than ever before. We have been gradually expanding our market share in the market since establishing first operations in China in 2006, and our aim is to be the leader of offering sustainable rental textiles to our customers in Asia. The new entity will double our size and make us a more prominent player in one of our core markets”, says Juha Laurio, CEO of Lindström Group.
Cintas is the world’s biggest company in textile services with global annual revenue of more than USD 7 billion. Company’s three service centers in Suzhou, Tianjin, and Guangzhou serve nearly 560 customers in workwear, mats, and cleanroom services. Cintas has a workforce of approximately 300 employees in China who will be integrated within Lindström business.
Lindström´s current operations in China employ nearly 250 people in five locations (Suzhou, Chengdu, Guangzhou, Beijing, and Shanghai). The company has been operating in the market since 2006 and it serves nearly 500 customers in workwear and cleanroom services.
The integration work will start immediately, and it is expected to be finalized during the first half of 2021. The new entity will utilize and benefit best practices and competences from both companies, and Lindström looks forward to working with Cintas China management team and employees on the creation and implementation of a joint vision.
“With this deal, two of the biggest players in the market are coming together. The strategic fit in terms of locations, service offerings, and synergy potential are excellent. By combining our expertise, our customers will get even more innovative and sustainable solutions in rental textiles to support them in operating best possible way every day”, says Anupam Chakrabarty, Senior Vice President responsible for the Asian region and Sales and Markets in Lindström.
For further information, please contact:
Juha Laurio, President & CEO, Lindström Group, email@example.com
Anupam Chakrabarty, Senior Vice President, Asia, Sales and Markets, Lindström Group, firstname.lastname@example.org
Edwin Xu, Vice President, China, email@example.com
Lindström is a textile service company focused on making our customers’ lives easier in Europe and Asia. With our 4,600 passionate employees, we offer sustainable and easy-to-use textile services that ensure safe and hygienic solutions for the best possible customer experience. In 2019, the turnover of the Lindström Group was 408 million euros. www.lindstromgroup.com