South Pacific Laundry (SPL) has withdrawn its request for merger clearance of its proposed acquisition of Spotless Laundries after it decided not to proceed with the transaction.
Spotless Laundries is part of Spotless Group Holdings Limited which is wholly-owned by Downer EDI Limited (ASX:DOW).
Spotless Laundries and SPL both offer commercial laundry services in multiple cities and regions across Australia.
The ACCC began its informal merger review on 11 May 2020 and expressed preliminary concerns about the transaction on 27 August 2020.
The ACCC’s investigation indicated that Spotless Laundries and SPL were two of the largest commercial laundry suppliers nationally and in Adelaide, Perth, Sydney and Melbourne.
Background
SPL and Spotless Laundries both provide hiring, cleaning and delivery services for linen and garments in multiple regions across Australia.
SPL is owned by Australian private equity firm Anchorage Capital Partners.
The ACCC’s Statement of Issues is available on our public register.
The ACCC also considered a separate bid by Alsco Pty Ltd to acquire Spotless Laundries’ garment business until Alsco Pty Ltd withdrew its bid on 22 October 2020. Further information is available at Alsco Pty Ltd – Spotless’ garment business.
