Pamplona Acquires Coinmach, Air-Serv in $1.4 Billion Transaction
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Pamplona Capital Management LLP agreed to buy Coinmach Service Corp., the biggest laundry-equipment service provider in the U.S., and Air-Serv Group LLC in a transaction valued at $1.4 billion.
Air-Serv provides car-tire inflation services in North America, according to a statement today. Pamplona is combining the companies into a new entity, CSC ServiceWorks Inc. Robert Doyle, currently chief executive officer of Coinmach, will lead the merged company along with the existing management team from Air-Serv, the statement shows.