Downer completes laundries business divestment

Downer EDI Limited (ASX:DOW) announced today that it has completed the sale of its 29.9% interest in its Australian laundries business to an Asia Pacific private equity fund managed by Macquarie Asset Management. This transaction finalizes Downer's exit from the laundries sector, which operates as Linen Services Australia and Ensign in Australia, and Taylors Laundries in New Zealand. Downer had previously sold 70.1% of the business to Adamantem Capital in 2021. The sale of the remaining stake to the Macquarie Asset Management-managed fund will provide Downer with pre-tax proceeds of approximately AUD 64 million. The company stated that this divestment aligns with its strategic focus on portfolio simplification and will strengthen its balance sheet. The sale agreement was initially announced on February 13, 2025.