Bidvest to acquire British hygiene business PHS

Bidvest CEO Lindsay Ralphs. Picture: FINANCIAL MAIL

“Bidvest believes that the PHS service offering and geographic presence will be complementary to Bidvest’s Services division. Several learnings can be shared, and enhanced, thereby improving the overall service offering. The geographic footprint allows for growth optionality into Europe and further afield,” Bidvest said in a statement on Tuesday.

“The hygiene market is resilient and continues to grow, supported by structural growth drivers such as urbanisation, hygiene and safety standards as well as a growing and ageing population, to name a few,” Bidvest said. The company was carrying £560m at the end of March 2019, which means that its earnings before interest, tax and amortisation of £37.5m for the financial year was extinguished by interest charges of £55m.

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