Law firm helps seal international deal

A Shropshire law firm has helped seal a major international takeover with Swiss laundry giant Schulthess acquiring French market leader Armstrong France. 

The deal saw Shrewsbury-based Aaron & Partners advise Armstrong France Holdings Ltd on the sale of its wholly-owned French subsidiary Armstrong France SAS to Swiss-based Schulthess Maschinen AG. 

The transaction, completed for an undisclosed sum, forms part of Schulthess’s ambitious European expansion strategy and gives the group a major foothold in the French market.

Armstrong France, founded in 2001 and headquartered in Saint-Germain-Laprade, is the country’s leading operator and installer of laundrettes.

The business runs around 400 own-brand Wash ’n Dry Concept sites containing almost 1,200 machines. It supplies high quality washing, drying and finishing equipment across sectors including industry, healthcare, hospitality, education and the military. 

Stuart Haynes, corporate and commercial partner at Aaron & Partners, said: “The deal involved close co-ordination between UK and French advisers and demonstrates the strength of our international corporate practice.”

Aaron & Partners acted for the seller, Armstrong France Holdings Ltd, working alongside French firm Ydes, (led by Cécile Dessapt). RWK Goodman acted for the buyer Schulthess Maschinen AG, with John North leading the UK team and Forvis Mazar providing French legal support.

As Armstrong France SAS was a wholly-owned subsidiary of UK-registered Armstrong France Holdings Ltd, the deal was completed under English law, with additional French support from French lawyers acting for both parties. 

Schulthess CEO Thomas Marder said: “With Armstrong France, we are not only gaining a strong partner, but also direct access to a dynamic market with great potential."