Accent Equity sells Textilia to Danish trade buyer

The exit comes less than three years after Textilia was acquired by Accent and its SEK 3.8bn Accent Equity 2012 fund, bringing two decades of PE ownership to an end for the group.

During the GP's holding period, Textilia's revenues grew by SEK 73m. According to publicly available information, the group had SEK 502m of revenues in 2014 and SEK 514.9m in 2015, while Accent said in a statement Textilia generated sales of SEK 575m in the 2016 financial year.

The transaction is subject to regulatory approvals.

Previous funding
Textilia's first financial backer was Swedish private investment group Bure Equity, which acquired the company – then Länia Textil – in 1997. Renamed Textilia, Swedish small-cap firm Litorina bought the group in an SEK 201m SBO in 2008.

Company
Founded in 1997, Textilia is a textile services provider, primarily to the Swedish healthcare and defence sectors.

It operates seven laundry facilities across Sweden and employs a staff of 440.

People
Accent Equity – Benny Zakrisson (partner).

Advisers
Vendor – ABG Sundal Collier (corporate finance); Hannes Snellman Attorneys (legal); Grant Thornton (financial due diligence, tax); Arthur D Little (commercial due diligence).
Equity – Handelsbanken (corporate finance); Gorrissen Federspiel Advokatpartnerselskab (legal); Vinge (legal); PwC (financial due diligence, tax); Orbicon (environmental due diligence).

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