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France’s Sagard exits workwear, laundry company RLD to Vermeer

7 Jun 2013

French private equity Vermeer Capital has acquired workwear business RLD from Sagard Capital.

Sagard, along with RLD’s management, acquired 100 per cent of its shares in April 2006.

From its 24 production sites, spread all over the country, the company picks up and cleans more than 100,o00 uniforms and 200 tons of linen per year. The end-markets targeted by the group range from the car or food manufacturing industries to healthcare providers, from the hotel and catering businesses to service industries.

RLD reported revenue of €154m in 2011, with around 1,800 employees.

Vermeer Capital is a Fonds Commun de Placement à Risques (FCPR). Its investments mainly comprise French institutions.

Sagard is a French investment fund that provides equity capital targeting mid‐sized companies. Created by the Desmarais family of the Power Corporation of Canada in 2003, it manages close to €1.5bn in funds. Since 2004, Sagard has carried out 20 investments in the industrial and service sectors.

The firm’s Sagard II fund raised €808m in December 2006, with Lps comptising ten industrial families and nine institutional investors.

|Sagard II has already invested in five companies and still has more than €400m in available funds.

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