Business
K-Bro Completes Transformative Acquisition of U.K.-Based Star Mayan
K-Bro Completes Transformative Acquisition of U.K.-Based Star Mayan Canada NewsWire ...
About this update from K-bro Linen Inc.
[{"type":"text","content":"\n\n\n\n K-Bro Completes Transformative Acquisition of U.K.-Based Star Mayan\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n (TSX:KBL)\n \n\n\n EDMONTON,  AB\n \n ,\n \n\n June 11, 2025\n \n\n /CNW/ - K-Bro Linen Inc. (\"\n \n K-Bro\n \n \" or the \"\n \n Corporation\n \n \") is pleased to announce that it has completed its previously-announced acquisition of U.K.-based STAR Mayan Limited (\"\n \n Star Mayan\n \n \") for a cash purchase price of £107.2 million (the \"\n \n Acquisition\n \n \"). The Acquisition is highly complementary to K-Bro's existing U.K. businesses, Fishers and Shortridge, and creates a national footprint in the U.K.'s £1.6 billion commercial laundry and textile rental sector.\n \n\n \"We are excited to close the acquisition of Star Mayan. Today's milestone represents the start of an exciting new chapter for K-Bro as we build upon the vision we had set out in 2017 when we first entered the U.K. market. Our focus now shifts towards execution of our integration plan with the goal of creating the leading national U.K. platform along with Fishers and Shortridge. We look forward to the multitude of opportunities ahead to continue growing the overall K-Bro business,\" said\n \n Linda McCurdy\n \n , Director, President and Chief Executive Officer of K-Bro.\n \n\n\n ACQUISITION FINANCING\n \n\n\n The Acquisition was partially funded by the previously-closed bought deal financing (the \"\n \n Offering\n \n \") whereby K-Bro issued 2,334,500 subscription receipts (the \"\n \n Subscription Receipts\n \n \") at a price of\n \n C$34.55\n \n per Subscription Receipt, which included the full exercise of the over-allotment option. The remainder of the Acquisition was funded by the Corporation's new\n \n C$134.3 million\n \n , four-year amortizing term loan.\n \n\n With the closing of the Acquisition now complete, each Subscription Receipt will be exchanged today for one common s...