August 10, 2007
PAI partners agrees to sell textile rental and cleaning service company Elis GIE to French private equity firm Eurazeo SA.
On August 8, it was announced that Willkie client PAI partners has agreed to sell textile rental and cleaning service company Elis GIE to French private equity firm Eurazeo SA for an enterprise value of $3.14 billion (€2.28 billion). With about 13,000 employees in nine European countries including France, Germany, Portugal and Spain, Elis rents and cleans linen for hospitals and hotels, and provides uniforms and sanitary equipment. PAI partners manages and advises dedicated private equity funds with a total equity value of more than €7 billion. The firm also recently advised PAI (and the Descours family) in the €3.4 billion sale of European shoe and apparel retailer Vivarte to Charterhouse. Both deals were handled by partners Daniel Payan and Cédric Hajage and special European Counsel Jeffrey Fouts.
