[jasonl]

National franchise is about to be sold to management in a £13 million deal?

[Jim_77]

Sounds intruiging.  I'll put in an early guess that it's the Irish one 8-)

[Shaun_Ashmore]

Burger King

Shaun

[jasonl]

It is a carpet and upholstery cleaning franchise.

[Neil Williams]

Rainbow?
Service Master?
Chem Dry?

[Shaun_Ashmore]

I'd have thought these 3 were worth more than 13 million,

Hydrodynamix?
Stainbusters?

Shaun

PS Jason when are you moving?

[robert meldrum]

ACCA

[Jim_77]

TACCA

[jasonl]

Neil , it is one of those 3 ,,, yes it is a bargain in my eyes.  All will be revealed in the trade press soon enough

[John Kelly]

Chem Dry, turnover well down due to insurance companies cash setling.

[daysdeepclean]

Gotta be Service Master

[Jim_77]

I don't think it's SM

Chemdry aren't on the rocks either, although yes their insurance work has suffered the same as everyone else in the industry.

CD also do regular domestic/commercial cleaning etc.  to keep themselves ticking along. SM also do the same, plus in addition to the insurance work they also have diverse franchise outlets covering furniture repair, domestic maid service, commercial contract cleaning and lawn care.  If I could get a loan for 13million I'd be buying it at that price

Must be the one-trick pony

[John Kelly]

Its common knowledge that Homeserve were selling Chem Dry. I think they paid 19 million for it in 2004. Some of the larger franchises were trying to club together to buy it. How would that have worked

[jasonl]

Remember , all 3 have great income streams from royalties/franchise fees, and equipment sales, also franchise resales.

Some have valuable freehold properties too.

I have been told all the nitty gritty , it looks like a great deal ,, and this company stands to become very strong as a result.  In turn the industry profile will raise, good for us all potentially.

[mark_roberts]

I assume by the IRish one you mean cleaning doctor.  Its owned 100% by the boss Willie Lyttle as far as I know.  He will even talk to you when you ring!!

Mark

[mark_roberts]

I have been told all the nitty gritty , it looks like a great deal ,, and this company stands to become very strong as a result.  In turn the industry profile will raise, good for us all potentially.

Jason

I dont follow.  How could a management buyout help the industry unless the current owners where so woefully bad in the first place??

Mark

[Shaun_Ashmore]

I'd have thought CD were worth a lot more than that. Have Homeserve taken all the insurance market out of CD and left them with cleaning only? what's the deal with buying them to sell it on?

Shaun

[francis]

Why did ITV buy Friends Reunited in 2005 & sell it off at 150 million less 4 years later???.   Probably the same reason

regards

[will01]

Cud it be Rainbow?  I say this because the local rainbow van can be seen every day on a small building site.

Dont think their getting much work atm

[derek west]

did a job last week for a women who's son in law is a rainbow franchisee
derek