Johnson Service Group has completed a deal worth £52.6m in cash to buy linen supplier Portgrade and its trading subsidiary Afonwen Laundry.
It also paid £3.3m on Tuesday for Chester Laundry, trading as Chester Textile Services, and has today announced it intends to place 33m new shares to raise around £28.7m.
The Preston Brook-based company said the acquisition of Portgrade and the placing are not inter-conditional.
Dry cleaning to textile services group Johnson has also completed an increased £150m finance package with its existing banks.
