Johnson Service Buys London Linen
 
With the recent acquisition of London Linen Supply for $79.4 million, Johnson Service Group is now the UK’s biggest provider in the restaurant/catering linen sector. The group, based in Preston Brook near Runcorn, announced a new $137.3 million financial package with existing banks to fund the purchase, including $24.1 million of new shares, and a short-term facility of $22.8 million. London Linen, with revenues up last year (to October ’14) at $33.6 million, is expected to enhance earnings immediately, and supports the company’s strategy to broaden and expand existing textile rental services ...