Lindström accelerates future growth in Asia by acquiring 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 realisation 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 on the Asian market is higher than ever before. We have gradually been expanding our market share there since establishing our first operations in China in 2006, and our aim is to be the leader in sustainable rental textiles in Asia. The new entity will double our size and make us a more prominent player in one of our core markets,” explains Juha Laurio, CEO of the Lindström Group.
Cintas is the world’s biggest company in textile services with global annual revenue of more than USD 7 billion. The company’s three service centres 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 into Lindström’s 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 the 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 their operating in the best possible way every day,” asserts Anupam Chakrabarty, Senior Vice President responsible for the Asian region and Sales and Markets at Lindström.
For further information, please contact:
Juha Laurio, President & CEO, Lindström Group, juha.laurio@annikettunen
Anupam Chakrabarty, Senior Vice President, Asia, Sales and Markets, Lindström Group, anupam.chakrabarty
Edwin Xu, Vice President, China, firstname.lastname@example.org
The Lindström Group
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