SOMERSWORTH, N.H. — General Linen Service Co. has acquired Stratford, Conn.-based Savoy Linen Service from hygiene and sanitizing products and services provider Swisher Hygiene, the company reports.
Swisher Hygiene completed the sale of its Savoy Linen Service operations in mid-December for $2.3 million in cash plus purchased accounts receivable.
“We are pleased to have completed the sale of a portion of our non-core assets held for sale, and the cash received from the sale will be used to fund our existing core operations,” says William M. Pierce, president and CEO of Swisher. “We are currently in substantive discussions regarding the remainder of our non-core assets held for sale and will announce any additional sales in due course.
“In the meantime, our focus remains squarely on maximizing customer satisfaction through providing best-in-class service, gaining new business and further improving our overall cost structure.”
Regarding its acquisition of Savoy Linen Service, General Linen Service Co. Vice President and COO Chris DeSaulnier says, “With the loyalty and support of our customers, we have continued to grow and expand our service area, and this strategic acquisition provides us with increased production and service coverage and support for our southern New England customer base, an additional state-of-the-art processing facility, and expands our footprint into the New York, New Jersey and Connecticut markets.”
“We warmly welcome all Savoy Linen Service customers and employees, and look forward to working with them moving forward,” adds DeSaulnier.