Grace Quigley
Manager External Comms •
Sydney
Media release: Clayton Utz advises family-owned laundry business Richard Jay on sale to Fortitude Investment Partners
1 minute
Clayton Utz has advised the shareholders of Richard Jay, a nationwide laundry equipment and cleaning chemicals business, on the sale of their family-owned business to private equity firm Fortitude Investment Partners.
Established in 1969 as a single laundromat in Adelaide, Richard Jay has grown his business into a nationwide commercial laundry equipment and chemicals provider with 90 staff and 200 contractors. Operating under the three distinct brands of Richard Jay, JayChem and Symbio, the business services the hospitality, education, healthcare, and mining industries. It has been family-owned for 55 years.
The acquisition is Fortitude Investment Partners’ first investment from its new $100 million flagship Fortitude Fund.
The Clayton Utz team was led by Corporate partner Stephanie Daveson and senior associate Laura van Stekelenburg, alongside special counsel Andrew Mackenzie and lawyer Bei Zhang.
Ms Daveson said it was a pleasure to support the shareholders of Richard Jay on the sale of their business after 55 years of remaining family-owned.
Congratulations to our clients, Carolyn Kirk, Libby Baldwin and Kathie Smith on this significant milestone for Richard Jay. Their dedication and vision over many years have shaped Richard Jay into the respected business it is today. We wish them every success in their future endeavours.
Get in touch
Disclaimer
Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.