Polyfinance, the Paris-based parent company of laundry equipment and ID specialist Polymark International, has successfully completed a management buyout, in a complex cross-border deal negotiated by Livingstone Guarantee.
Ian Elliott, Polyfinance’s finance director, initiated the deal after shareholders of the £15.8million turnover company sought to realise their investment and some of the management team decided to retire.
Mr Elliott believes there are significant opportunities to expand Polymark, already one of Europe’s leading players in the supply, distribution, installation and maintenance of equipment and identification systems to the laundry and garment rental industries. The company’s extensive customer base Includes hospitals across France, NHS trusts in Britain, and industrial users laundering millions of items a year.
He forecast a strong future for Polymark’s Kirkham-based manufacturing operation and for its laundry equipment service and distribution centre at Banbury.
