Astorg Partners (RLD)

On Monday 10 April 2006, Astorg Partners announced the disposal of its subsidiary R‚gie Linge Distribution ("RLD") , a French textile services company, to Sagard Private Equity Partners for a total consideration of £140m.

Management has remained with the business and reinvested a proportion of their sale proceeds.

With revenues of £125m in 2005 and an EBIT margin of 10%, RLD is the third leading French player with a c.10% market share in the linen rental and cleaning industry. The group provides rental and cleaning services mainly for linens, professional work wear/uniforms, wash room hygiene and mats. The group has an extensive national coverage through its 30 locations and serves over 15,000 clients in a variety of industries, ranging from restaurants to hospitals.

Canaccord Genuity acted as sole advisor to R‚gie Linge's shareholders.