STAR sells Star Mayan Limited
19 May 2025
STAR Capital Partnership LLP (“STAR”) is pleased to announce that the STAR III Fund has reached an agreement to sell its majority stake in Star Mayan Limited (holding company for the “Synergy LMS Group”) to K-Bro Linen Systems.
Synergy LMS Group is a leading commercial laundry provider in England, servicing the healthcare, hospitality, and airline sectors through a network of strategically located facilities across the country. STAR initially acquired its majority stake in July 2016 from Steris Plc, marking the first investment made by the STAR III Fund.
Together with management, STAR supported the business’s growth strategy through a combination of organic expansion and strategic acquisitions, investing in additional capacity, enhancing operational efficiency, and exploring adjacent services and markets.
Synergy LMS Group exemplifies the strategic asset characteristics that STAR seeks in all its investments: (I) it provides mission-critical, non-cyclical services backed by medium-term, inflation-linked contracts with high customer retention; (II) it holds a strong market position supported by significant investment and high barriers to entry; and (III) it generates predictable, resilient revenue from long-term customer relationships. Completion of the transaction remains subject to customary conditions.