Wexford company Celtic Linen, has been sold for €31.5m, three times the figure invested by sellers Causeway Capital Partners.
The firm which is a supplier of rented linen to hospitals and hotels has been in business for over 90 years, and employs around 350 staff.
It was originally bought by Causeway in December 2016 for €4m- they then invested a further €4.5m before selling the company for a massive profit last week.
Speaking about the sale Neil Hughes CEO of Azets Ireland says he’s impressed by the local business:
“They have managed to navigate their way through Covid and attract a significant investment from a large UK business and this shows a real vote of confidence in the local Wexford economy.”
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