Pamplona Puts a Lot of Quarters into Laundry Service Provider
May 17, 2013
Pamplona Capital Management has acquired Coinmach Service, a laundry service provider to multi-family housing properties, in a transaction valued at about $1.4 billion. Based in New York, Coinmach maintains and operates laundry equipment at more than 80,000 locations nationwide, serving about seven million individual housing units in 45 states. Concurrently, Pamplona also acquired AIR-serv Group, which provides pay air services to gas stations and convenience stores. Pamplona has merged the two companies into a new entity which will service nearly one million air and laundry systems throughout North America and Europe.