Ankara Laundry (Ankateks) has sold a substantial stake to Servizi Italia SpA

The private shareholders Ankara Laundry (Ankateks) have sold a 40% stake in the company to Servizi Italia SpA. They have also signed an agreement to sell a further 15% in 2017. Financial details have not been disclosed.

Ankateks provides laundry, dry-cleaning, textiles rental, housekeeping and other related logistical services mainly to hospitals, hotels and sports clubs. The group pursued an aggressive strategy of inorganic growth in recent years, acquiring majority stakes in a number of businesses. As a result, Ankateks is composed of a number of inter-related firms that cooperate to provide laundry services with maximum efficiency. This has also allowed the group to expand to other markets, to benefit from existing customer relationships and to increase production capacity as well as to capitalize on a large pool of talented and entrepreneurial managers.

Servizi Italia SpA is an Italian company primarily engaged in the provision of laundry and sterilization services for health care sector. The company structures its business into three main segments: Wash-hire Services; Linen Sterilization and Surgical Instruments Sterilization.

Following the transaction, Ankateks' current top management team will continue to run the company in partnership with Servizi Italia. The transaction will allow Ankateks to make the most of the growth and consolidation opportunities that a rapidly developing Turkish market offers and will turn the company into the undisputed market leader.

Oaklins' team in Turkey acted as financial advisor to the seller in this transaction.