JLA is a leading provider of mission-critical laundry, catering and heating asset supply and maintenance services to more than 20,000 UK SMEs. Its core proportion is a fully outsourced “Total Care” solution – a long-term rental and service contract which gives customers peace of mind that downtime of assets, which are critical to business operations, will be minimised with market leading response times and first-time-fix rates
Hg partnered with JLA in 2010 when the business was a much smaller laundry-focused company. Since then, the business has grown consistently year on year, developing its now core proposition, Total Care, whilst also expanding into the catering and heating verticals. The business has grown both organically and via M&A, completing 15+ acquisitions during Hg investment period.
In May 2018, we announced the sale of JLA to Cinven. This delivered 4.9x original cost to investors, generating a gross IRR of 26%.