{"id":658351,"date":"2013-05-16T06:25:59","date_gmt":"2013-05-16T10:25:59","guid":{"rendered":"http:\/\/www.pehub.com\/?p=202412"},"modified":"2013-05-16T06:25:59","modified_gmt":"2013-05-16T10:25:59","slug":"pamplona-capital-management-creates-csc-serviceworks","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/658351","title":{"rendered":"Pamplona Capital Management Creates CSC ServiceWorks"},"content":{"rendered":"

Pamplona Capital Management<\/strong> has acquired Coinmach Service Corp<\/strong>, a multi-family laundry service provider, and AIR-serv Group<\/strong>, a provider of pay air services for automobile tire inflation in North America. The acquisitions, with a transaction value of $1.4 billion, creates a new company, CSC ServiceWorks, Inc<\/strong>.<\/p>\n

PRESS RELEASE<\/strong><\/p>\n

Coinmach is the largest supplier of outsourced laundry equipment services for multi-family housing properties in the United States. The company services approximately seven million individual housing units in 45 states. AIR-serv, which provides pay air services to gas stations and convenience stores, will become a wholly owned subsidiary of CSC and maintain the brand name AIR-serv in select markets.
\nCSC will have a workforce of over 2,250 dedicated professionals, and will service nearly 1 million air and laundry systems throughout North America and Europe.
\nRobert M. Doyle, Chief Executive Officer of CSC, will lead the new company along with the existing management team from AIR-serv. The transaction was financed by a $795 million first lien term loan, as well as a $325 million second lien term loan that was fully underwritten by Pamplona.
\n\u201cPamplona is excited to partner with Bob Doyle and his world-class team. With the combined company\u2019s new and flexible capital structure, we look forward to supporting the company\u2019s growth strategy, including future acquisitions, in both the laundry and air service lines\u201d said Robert Warden, partner at Pamplona Capital Management.
\n\u201cWe are thrilled to partner with Pamplona in launching CSC ServiceWorks,\u201d said Robert M. Doyle, CEO. \u201cThrough this partnership, and with the addition of AIR-serv, we are able to accelerate our vision of building a world-class, diversified, route based service organization. We are excited to offer our customers a single, fully integrated platform combining the resources of two respected industry leaders with distinct yet complementary attributes.\u201d<\/p>\n

The post Pamplona Capital Management Creates CSC ServiceWorks<\/a> appeared first on peHUB<\/a>.<\/p>\n

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Pamplona Capital Management has acquired Coinmach Service Corp, a multi-family laundry service provider, and AIR-serv Group, a provider of pay air services for automobile tire inflation in North America. The acquisitions, with a transaction value of $1.4 billion, creates a new company, CSC ServiceWorks, Inc. PRESS RELEASE Coinmach is the largest supplier of outsourced laundry […]<\/p>\n","protected":false},"author":7999,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-658351","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/658351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7999"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=658351"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/658351\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=658351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=658351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=658351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}