Berendsen

Berendsen plc
Public (LSE: BRSN)
Industry Textile rental service
Founded 1920
Headquarters London, UK
Key people
 Iain Ferguson, Chairman
James Drummond, CEO
Revenue £1,110.0 million (2016)[1]
£140.7 million (2016)[1]
£91.5 million (2016)[1]
Website www.berendsen.com

Berendsen plc (formerly The Davis Service Group Plc) was a major British-based provider of textile maintenance services with headquarters in London. In September 2017 the French company Elis completed the acquisition of Berendsen.[2]

History

Formation

The business was formed in 1920 as Godfrey Davis renting out automobiles. It was first listed on the London Stock Exchange in 1959. In 1987 it acquired Sunlight Services, a leading laundry business founded in 1900. In 1991 it sold most of its car dealerships (having already sold the car rental business) and the name was changed to Davis Service Group. In 1996 it acquired Spring Grove Services, another leading laundry business.[3] In 2002 it bought Sophus Berendsen, a leading Danish laundry business for £426 million.[4] Then in 2007 it bought the textile service business of Germany's Permaclean.[5]

Renaming

On 31 July 2009 the company appointed Peter Ventress chief executive officer of Davis Service Group.[6] The business was renamed as Berendsen plc with effect from 4 January 2011.[7] In August 2015 the company appointed James Drummond Chief Executive Officer.[8]

Takeover by Elis

Berendsen's head office at Grosvenor Place, London

On 18 May 2017 it was reported that the French laundry services group Elis had proposed a hostile takeover of Berendsen. This occurred after Berendsen's board repeatedly rejected cash and share offers from Elis, claiming the offers undervalued the company.[9] On 7 June 2017 Elis reached a preliminary agreement to acquire Berendsen in a deal valuing Beredensen at about £2.2 billion.[2] The transaction was completed in September 2017.[10]

In December 2017 Berendsen Cleanroom Services was fined £1.2 million by the Competition and Markets Authority (CMA) for breaking competition laws, after it was found "colluding" with rival company Micronclean Limited in a market-sharing agreement. Micronclean was also fined.[11]

Operations

The Berendsen Group is divided into four business lines:[12]

  • Hospitality
  • Healthcare
  • Workwear
  • Facility (mats, washroom and cleanroom)

Key people

References

  1. 1 2 3 "Annual Report 2016". Berendsen. Retrieved 16 April 2017.
  2. 1 2 Stothard, Michael (June 7, 2017). "Laundry group Elis agrees £2.2bn deal for Berendsen". Financial Times. United Kingdom. Retrieved June 8, 2017.
  3. ↑ "Granada Group completes sale of Spring Grove Services to Davis". 25 October 1996. Retrieved 8 April 2012.
  4. ↑ Dunne, Helen (23 March 2002). "Davis agrees £426m bid for Rentokil founder Berendsen". The Daily Telegraph. London. Retrieved 8 April 2012.
  5. ↑ Moulds, Josephine (21 December 2006). "Commodities drag down FTSE100". London: The Telegraph. Retrieved 8 April 2012.
  6. ↑ "Davis Service Group Appoints Peter Ventress As CEO". RTT. 31 July 2009. Archived from the original on 4 March 2016. Retrieved 8 April 2012.
  7. ↑ "Change of name". Telegraph Wire. 4 January 2011. Archived from the original on 6 October 2011. Retrieved 8 April 2012.
  8. ↑ "Berendsen names Drummond as successor to Ventress". Laundry and Cleaning News. 13 May 2015. Retrieved 16 April 2017.
  9. ↑ Stothard, Michael (May 18, 2017). "Elis threatens hostile takeover of UK rival Berendsen". Financial Times. United Kingdom. Retrieved May 18, 2017.
  10. ↑ "Elis completes acquisition of Berendsen". Reuters. 12 September 2017. Retrieved 13 September 2017.
  11. ↑ Lavigueur, Nick (December 18, 2017). "Firm that does Huddersfield Royal Infirmary laundry is fined £1.2m". Examiner. Retrieved January 15, 2018.
  12. ↑ "Trading update". Berendsen. Retrieved 16 April 2017.


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