Dalmore Capital is among firms expressing interest in acquiring UK commercial equipment supplier JLA Group from buyout firm Cinven, according to sources. Apax Partners and Nordic Capital are also pursuing JLA, with Cinven potentially valuing the asset at over £1 billion ($1.3 billion). Goldman Sachs Group Inc. has been hired to advise on the potential deal. Cinven revived the sale process this year amid growing interest in industrial assets.
The buyout firm previously attempted a sale in 2024 but withdrew after offers failed to reflect JLA's growth prospects. JLA provides commercial laundry, catering, heating and fire safety equipment and services across the UK. It was acquired by Cinven from Hg Capital in 2018 and has had multiple private equity owners.
Talks are ongoing, with no guarantee of a transaction. Representatives for all parties declined to comment. Dalmore manages £5.7 billion of assets and focuses on UK mid-market infrastructure investments.
It was acquired by Royal London Asset Management Ltd. in November last year.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing