EL SEGUNDO, Calif. — WASH Multifamily Laundry Systems, which provides laundry facilities management services, has acquired Coinamatic Canada, that country’s largest provider of multifamily laundry services. This transaction makes WASH the second largest route laundry company and the only multinational laundry company in North America, it reports.
“Coinamatic brings experience in the Canadian market, key technology and commercial distribution channels complementary to our current business lines,” says Adam Coffey, WASH president/CEO. “This acquisition is an important step in executing our overall growth strategy to expand our machine base, revenue streams and geographic focus.”
Coinamatic will become a wholly owned subsidiary of WASH Laundry but maintain the Coinamatic brand name in the Canadian market.
With Coinamatic’s approximately 100,000 installed washers and dryers throughout Canada, WASH’s installed base climbs to more than 400,000 machines with an estimated combined revenue of $425 million. Coinamatic Canada also runs a commercial laundry division and a division that manages parking facilities.
“We, at Coinmatic, are very excited about the new opportunities that becoming a part of WASH Laundry provides,” says Sean Smith, president/CEO of Coinamatic. “We look forward to leveraging our two companies’ synergies in dedication to customer service and operational efficiency.”