Aaron & Partners has helped seal a major international takeover, with Swiss laundry giant Schulthess acquiring French market leader Armstrong France.
Our Corporate & Commercial team advised Armstrong France Holdings Ltd on the sale of its wholly owned French subsidiary, Armstrong France SAS, to Swiss-based Schulthess Maschinen AG.
The transaction, completed for an undisclosed sum, forms part of Schulthess’s ambitious European expansion strategy and gives the group a major foothold in the French market.
Armstrong France, founded in 2001 and headquartered in Saint-Germain-Laprade, is the country’s leading operator and installer of laundrettes.
The business runs around 400 own-brand Wash’n Dry Concept sites containing almost 1,200 machines. It directly employs more than circa 20 people and supplies high-quality washing, drying and finishing equipment across sectors including industry, healthcare, hospitality, education and the military.
Stuart Haynes, Corporate & Commercial Partner at Aaron & Partners, said: “We are pleased to have supported Armstrong France Holdings on this strategically significant cross-border transaction.
“The deal involved close coordination between UK and French advisers and demonstrates the strength of our international corporate practice.”
Aaron & Partners acted for the seller, Armstrong France Holdings Ltd, working alongside French firm Ydes, led by Cécile Dessapt. RWK Goodman acted for the buyer Schulthess Maschinen AG, with John North leading the UK team and Forvis Mazar providing French legal support.
As Armstrong France SAS was a wholly owned subsidiary of UK-registered Armstrong France Holdings Ltd, the deal was completed under English law, with additional French support from French lawyers acting for both parties.
Schulthess intends to integrate the business gradually, maintaining existing customer relationships and introducing its digital solutions to the French market.
Schulthess CEO Thomas Marder said: “With Armstrong France, we are not only gaining a strong partner, but also direct access to a dynamic market with great potential.
“Our durable and energy-efficient products, combined with our digital services, will deliver long-term added value to the French laundry market.
Key Contact
Stuart Haynes
Corporate & Commercial Partner
Stuart has a wide range of experience in many areas of law, having previously practised as a criminal lawyer, an employment lawyer and a commercial property lawyer. He has specialised in corporate transactional work, intellectual property, commercial contract and international trade work for the last 15 years.
