MML's Clean Linen buys Paragon

The deal was supported with debt from Permira Debt Managers.

Previous funding
MML first backed Clean Linen in December 2014, acquiring a significant majority stake in the company.

In October 2015, MML supported Clean Linen's acquisition of the trade and assets of Watford Launderers and Cleaners.

Company
Paragon is a linen and garment rental provider. It typically serves UK hospitality clients including hotel groups, bed and breakfasts, retailers and factories. It operates through sites and depots in Cheltenham, Nottingham, Ross-on-Wye, Yeovil, Clydach and Steverton.

The company is also a shareholder of Brilliant Laundry Group.

People
MML Capital – Rob Devonshire (investment manager); Luke Jones (partner).
Paragon – David Stevens (joint managing director).
Clean Linen – Jason Miller (CEO).

Advisers
Company – Livingstone Partners, Bill Troup (Corporate finance).

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