At what enterprise value was JLA acquired in 2018?

During the acquisition of JLA by CINVEN in 2018, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b GBP. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Business Services industry currently tracks an average EBITDA multiple of 11.1x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of JLA when it was acquired by CINVEN?

The estimated EV/EBITDA multiple for JLA is in the range of 15x - 25x. For comparison, the Business Services sector currently shows an average EBITDA multiple of 11.1x. Join our community for free to access full valuation data and industry trends.

When was JLA acquired by CINVEN?

JLA was acquired by CINVEN in 2018.

What was the revenue of JLA at the time of the deal?

The revenue of JLA at the time of the deal is estimated to be in the range of 100M - 200M GBP. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of JLA during the acquisition?

JLA's EBITDA is estimated to be in the range of 25M - 50M GBP. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the JLA acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the JLA deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.cinven.com/news-insights/cinven-to-acquire-jla/

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Home Database Business ServicesJLA

05/2018

CINVEN takes majority stake in JLA

UNITED KINGDOM Industrial Services / Equipment Rental EV 500M - 1.5b GBP

Context

Private equity firm Hg has entered into a definitive agreement to fully divest its equity stake in JLA to pan-European investment firm Cinven. The transaction, which remains subject to customary regulatory clearances, marks the culmination of a highly successful holding period and exit process for the selling sponsor. Exclusively advised by investment bank Baird on the corporate finance front, Hg successfully concludes an investment cycle defined by significant operational transformation, executed in close partnership with the management team led by CEO Stephen Baxter. For Hg, this realization explicitly validates the execution of an ambitious, hybrid value-creation playbook. Having initially identified the target as a "hidden champion" within its niche, the sponsor actively backed management to massively scale the corporate footprint. This transformational scale-up was driven by continuous organic product innovation into adjacent vertical markets, coupled with an aggressive buy-and-build consolidation program comprising numerous strategic bolt-on acquisitions. The incoming financial sponsor, Cinven, intends to firmly leverage this established operational momentum and the company's highly defensive business model to accelerate the next phase of expansion and cement its sector leadership.

Hg Capital in 2010 had previously taken control of the company during an LBO.

JLA, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Business Services sector (11.1x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Established in 1973 and headquartered in Ripponden, West Yorkshire, JLA is the UK's undisputed market leader in the supply and servicing of mission-critical commercial equipment. Originally carving out its niche as a specialized distributor of industrial washers and dryers for hospitals, university accommodations, and healthcare facilities, the company has vastly diversified its operational footprint. Through its flagship "Total Care" subscription model, JLA now provides fully integrated, hassle-free solutions encompassing commercial laundry, catering infrastructure, heating, and critical fire safety systems, ensuring strict regulatory compliance and minimizing operational downtime for its extensive client base.

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List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
03/2010	HG CAPITAL	JLA	UNITED KINGDOM	Industrial Services	Private equity firm HgCapital successfully saw off competition from rival financial sponsors to secure the buyout of JLA (John Laithwaite Associates), a leading UK commercial laundry equipment supplier. This primary transaction marks the inaugural platform investment for the sponsor's £1.85 billion Fund 6. The deal effectively resolves the target’s succession planning by facilitating the immediate introduction of a new, highly experienced management team explicitly tasked with spearheading the company's operational expansion. The investment thesis firmly aligns with HgCapital’s strategy of acquiring highly defensive, niche assets underpinned by strong cash generation capabilities. Despite complex historical financials characterized by heavy depreciation charges, JLA boasts an incredibly resilient business model anchored by long-term rental and maintenance contracts. Backed by the sponsor, the newly installed management team is mandated to accelerate the company's evolution from a traditional equipment distributor into a premier B2B critical services provider, maximizing customer lifetime value across its core sectors.

REFERENCES

Valuation range: EV 500M - 1.5b GBP

Revenue range: 100M - 200M GBP

EBITDA range: 25M - 50M GBP

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of JLA by CINVEN are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: jla

Acquirer: cinven