Finland-based multinational textile services group Lindström is acquiring the entire Chinese operations of Cintas – the world´s biggest textile services company.
Cintas, with global annual revenue of over US $ 7 billion, has three service centres in Suzhou, Tianjin and Guangzhou that serve nearly 560 customers in workwear, mats and cleanroom services.
Besides, it also has a workforce of approximately 300 employees in China who will be integrated within Lindström business.
With a turnover of €408 million and 4,600 employees, Lindström is a textile service company, which offers sustainable and easy-to-use textile services that ensure safe and hygienic solutions for the best possible customer experience.
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.
Juha Laurio, CEO of Lindström Group, says “Our focus in the Asian market is higher than ever before. The new entity will double our size and make us a more prominent player in one of our core markets.”
The integration work will start immediately, and is expected to be finalised in the first half of 2021.
More on the deal, Anupam Chakrabarty, Senior Vice President responsible for the Asian region and Sales and Markets in Lindström, says “The strategic fit in terms of locations, service offerings and synergy potential are excellent. By combining our expertise, our customers will get more innovative and sustainable solutions in rental textiles to support them in operating best possible way every day.”
Here it is important to state that Lindström has been operating successfully in India ever since Lindström India was set up in India in 2007.
With 30 to 40 per cent Y-o-Y growth, Lindström India is the only organised rental workwear service companies in the country that clothes over 100,000 people daily through its 11 state-of-the-art units that include Chennai, Mumbai, Delhi, Hyderabad, Kolkata, Bengaluru, Panchkula, Vadodara, Pune and Tinsukia – the latest being Vizag.
In a year that has not many good stories to talk about, Lindström’s deal is surely positive and fruitful for the company and the industry.