Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

15890

Ontario Teachers’ Pension Plan to acquire minority stake in Pamplona Capital’s CSC ServiceWorks

RELATED TOPICS​

The Ontario Teachers' Pension Plan has agreed to acquire a 29.7 per cent interest in Pamplona Capital Management’s CSC ServiceWorks.

Terms of the transaction, expected to close in December, have not been disclosed.
 
CSC is the largest North American route-based service provider of multi-family housing and commercial laundry services.  
 
CSC was created In May 2013 when Pamplona simultaneously acquired Coinmach Service Corp and AIR-serv Group. Under Pamplona's ownership, CSC has expanded its senior management team, invested in information technology and systems, completed several acquisitions, and grown organically, while nearly doubling EBITDA to greater than USD325 million.  
 
CSC's acquisitions have included Sparkle Solutions Corp, Canada's third-largest laundry route operator, and Mac-Gray Corporation, a provider of laundry services in the US.
 
Teachers' transaction was led by its private equity group, Teachers' Private Capital (TPC), which has approximately USD15 billion of invested capital.
 
"We are delighted to be partnering with Teachers' Private Capital, one of the world's leading investment groups, as we seek to further develop CSC as the premier provider of laundry and air vending services," says Robert Warden, a partner at Pamplona.
 
"CSC is a high-quality, stable business with excellent growth prospects and we are delighted to be investing alongside Pamplona," says Jane Rowe, senior vice-president of TPC.

Latest News

RQI Investors, an Australian-based active quantitative equities manager and part of the First Sentier Investors..
UK-based wealth management companies London & Capital and Waverton have announced that they have reached..
Figment Europe, a provider of institutional staking infrastructure, writes that it is solidifying its presence..

Related Articles

British pound coin
Fixed income’s return to favour following widespread interest rate rises has led to investors overcrowding sterling investment grade credit, delegates at the Pensions and Lifetime Savings Association investment conference have heard...
Fixed income’s return to favour following widespread interest rate rises has led to investors overcrowding sterling investment grade credit, delegates..
Sustainable Economy Top Panel
Europe is driving the growth in sustainable investment with global assets under management in ESG-labelled funds passing USD2.8 trillion...
Europe is driving the growth in sustainable investment with global assets under management in ESG-labelled funds passing USD2.8 trillion...
Pension funds
UK institutional investors are questioning the value of investing in private markets despite pressure from government to finance the country’s net zero and levelling up ambitions...
UK institutional investors are questioning the value of investing in private markets despite pressure from government to finance the country’s..
Juan Nozal, Mapfre Asset Management
Juan Nozal, Fixed Income Portfolio Manager at MAPFRE Asset Management, talks about the outlook for fixed income assets over 2024, in what he predicts will be an outstanding year for this asset class...
Juan Nozal, Fixed Income Portfolio Manager at MAPFRE Asset Management, talks about the outlook for fixed income assets over 2024,..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by