Accent Equity buys Textilia

The acquisition was made through Accent's SEK 3.8bn generalist fund, Accent Equity 2012, and is expected to be finalised by the end of Q4.

With Textilia having gone to a third Swedish owner in as many years, Accent said it planned to continue the company's growth through organic growth as well as acquisitions.

Previous funding
Litorina bought Textilia for SEK 201m from Bure Equity in 2008, via its Litorina Kapital III fund.

Bure had acquired the business's predecessor, Länia Textil, in 1997 and grown it through a series of mergers and acquisitions.

Company
Textilia is a supplier of textile services to the Swedish healthcare sector, providing procurement, logistics and laundering, as well as specialised services.

The company's history goes back to 1997, when Bure portfolio company Wash-it began a series of acquisitions to build what would eventually become Textilia.

Based in Örebro, west of Stockholm, the textile business had revenues of SEK 500m last year.

It employs 400 people across its five locations in Boden, Långsele, Rimbo, Örebro and Karlskrona.

People
Niklas Sloutski is the CEO of Accent and worked on the deal alongside Bure partner Paul Steene. Fredrik Lagerkvist is the CEO of Textilia.

Advisors
Vendor – Handelsbanken (M&A); Vinge (Legal); PwC (Financial due diligence).

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