K-Bro Acquires Quebec Launderer

K-Bro Linen Inc., Edmonton, Alberta, Canada, recently announced its acquisition of Buanderie Paranet. The latter company is a private laundry and linen services provider for the Quebec City healthcare and hospitality markets. K-Bro completed the transaction for Can$11.5 million ($8.5 million), plus a potential “earnout” of Can$1.9 million ($1.4 million), according to a news release. The purchase price will be satisfied by drawing down on K-Bro’s revolving credit facility. “With continued momentum in our business, we have been refocusing on strategic acquisitions and have an active M&A pipeline,” said Linda McCurdy, K-Bro president and CEO. “The ...