POELLATH advises Argos Wityu on the acquisition of Lavatio GmbH
Through its Argos Climate Action fund (Article 9 SFDR), Pan-European investor Argos Wityu (“Argos”) has acquired a majority stake in Lavatio GmbH, a provider of textile rental and laundry services with more than 2,200 active customers in the hotel and restaurant industry. BNP Paribas has acquired a minority stake as co-investor. The sellers were funds advised by Ufenau Capital Partners (“Ufenau”). The management of Lavatio GmbH is participating with a minority stake and will continue to manage the company in the future. The parties have agreed not to disclose the financial details. The transaction is expected to close by the end of the year, but is still subject to the standard regulatory approvals. POELLATH advised Argos on tax matters in connection with the acquisition.
Lavatio GmbH operates eight laundry facilities under seven local brands, offering textile rental and laundry services to over 2,200 customers in the hotel and restaurant, healthcare and industrial sectors in Germany and Switzerland. The company is a full-service provider and currently processes more than 230 tons of laundry per day. Lavatio GmbH is active nationwide, partnering with over 50 laundry facilities.
Argos Wityu is an independent, pan-European private equity firm that supports the growth of medium-sized companies in a range of industries. At the same time, in line with the objectives of the Argos Climate Action Fund, there is a particular focus on the sustainable transformation of the company, with a lower carbon footprint, a higher proportion of green energy, a general reduction in energy and gas consumption, and greater efficiency in the use of water and detergents. The acquisition of Lavatio GmbH is the third investment by the Argos Climate Action Fund and the first investment in Germany.
POELLATH advised Argos on tax matters in the transaction with the following Munich-based team:
- Dr. Nico Fischer (partner, lead, tax)
- Raphael Baumgartner (counsel, co-lead, tax)
- Bianca Disch (senior associate, tax)
