Two weeks after the acquisition of Wäsche Perle in Switzerland, Elis has announced the acquisition of RS10 in Spain. Two transactions, two geographies, one clear rationale: a group that is methodically densifying its network, market by market and segment by segment, with a level of discipline that few listed companies are able to maintain over the long term.
Analysis by the experts at Auris Finance, M&A and financial engineering advisors.
Elis has announced the acquisition of 100% of RS10 Servicios Tratamientos y Mantenimientos de Tejidos S.L. in Spain. Located north-east of Barcelona, RS10 operates a modern laundry facility and primarily serves customers in the healthcare sector, while also working with clients in the hotel and restaurant industry. With 90 employees, the company provides linen and workwear rental and maintenance services. RS10 generated revenue of €5.5 million in 2025 and has been consolidated in the Group’s financial statements since 1 June 2026.
An acquisition underpinned by Elis’ leadership momentum
RS10 may not make the front pages of the financial press. It is nevertheless highly revealing. In 2025, Elis actively continued its targeted acquisition strategy, completing nearly ten transactions, mainly in the flat linen market across Europe and Latin America, bringing annual revenue to €4.8 billion, up 4.9% compared with 2024.
Spain is a market the Group knows well. In the first quarter of 2025, Elis had already integrated Carsan in Spain, alongside Bodensee in Switzerland and Ernst in Germany, three acquisitions with combined revenue of approximately €55 million in 2025. RS10 further strengthens this existing Spanish network in a specific geographic area, the Barcelona region, and in a strategic customer segment: local public healthcare.
Elis has confirmed that a number of additional small and mid-sized acquisitions are already under review for the second half of 2026. RS10 is fully consistent with this approach: one piece of a puzzle whose assembly is planned, financed and executed with consistent industrial discipline.
This model is based on a simple principle, already illustrated by the acquisition of Wäsche Perle in Switzerland a few weeks earlier: adding a production site in an area already covered by existing customers, sales teams and logistics generates rapid and predictable synergies, without the cost of building new infrastructure or the commercial risk of entering an unfamiliar market.
Healthcare, an increasingly strategic segment
What sets RS10 apart from Wäsche Perle is its sector positioning. While Wäsche Perle primarily served the tourist hospitality market in Interlaken, RS10 mainly addresses the local public healthcare sector around Barcelona. This acquisition will enable Elis to strengthen its presence in local public healthcare while increasing its industrial capacity in the region.
This positioning is far from incidental. Healthcare is one of the most recurring and defensive segments in the rental and maintenance market: hospitals and clinics generate stable linen volumes, long-term contracts and structurally non-cyclical demand. This is precisely the type of asset Elis seeks to integrate in order to strengthen the resilience of its revenue base.
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