K-Bro Linen Inc. (TSX:KBL) acquired Shortridge Ltd for £26.10 million on April 30, 2024. Shortridge is being acquired for consideration of £24.1 million, on a cash-free, debt free basis (subject to customary conditions, including certain escrows) and with a further potential earn-out of £2.0 million for achieving certain targets for the 12 months through September 2024. Shortridge's last twelve months' revenue for the period ended March 31, 2024 was approximately £12.5 million. The transaction includes the freehold and leasehold real estate for Shortridge's laundry processing facilities. The acquisition is being funded entirely from K-Bro's recently increased syndicated debt facility and is expected to be accretive to the Corporation. Burness Paull LLP and Stikeman Elliott LLP are acting as legal advisors to K-Bro.

K-Bro Linen Inc. (TSX:KBL) completed the acquisition of Shortridge Ltd on April 30, 2024.