Washstation Limited

Since 2016, it has been the ambition of ADDEV Materials Group to become an international leading player in the field of aeronautics, space and defence, by creating a dedicated business unit. The acquisition of the Graytone Group and its subsidiaries Pexa and PSG, is a move towards realising that ambition.

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Published: 18 May 2017 Updated: 13 Apr 2022

Smith & Williamson Corporate Finance advises Washstation Limited (“Washstation”) on its sale to JLA Limited (“JLA”)

Washstation was founded in 2005 to provide managed launderette services, principally to university accommodation. From a standing start Washstation has gained a UK wide footprint and is now one of the leading providers in the sector.

This has been achieved through a focus on a high quality of service, combined with initiatives to enhance the customer launderette experience, such as televisions and entertainment consoles.

JLA has built its position in the UK Commercial Laundry market over more than 40 years and the acquisition of Washstation is complementary to the group’s existing services.

The transaction was led by Jim Clark, Director at Smith & Williamson Corporate Finance, assisted by Paul Casey.

Alistair Copley, founder and CEO of Washstation said “As an entrepreneur I look for advisers that can speak my language and provide hands-on, clear and succinct advice. Jim and the team at Smith & Williamson provided commercial, timely advice and guidance throughout the transaction.”

Paul Humphreys, Group CFO of JLA said “We found that the appointment of Smith & Williamson to support the vendor of Washstation really helped create an effective transaction process that saw both parties achieve their goals.”

Jim Clark said “We are delighted to have assisted Alistair through to a successful completion. This is a further completion by the Smith & Williamson Corporate Finance team in the growing sector of outsourced facilities management services to the public and private sectors. We look forward to seeing the business continue to grow under JLA’s ownership in an exciting and expanding sector.”

By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.

Note to editors
Smith & Williamson is an independently owned professional and financial services group with over 1,700 people. The group is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-to-large corporates. The group has eleven offices; these are in London, Belfast, Birmingham, Bristol, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton.

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This article was previously published on Smith & Williamson prior to the launch of Evelyn Partners.