Downer completes Laundries business divestment

Downer EDI Limited (Downer) (ASX:DOW) has completed the sale of its 29.9% interest in its Australian laundries business (HT Hold Co Pty Ltd) to an Asia Pacific private equity fund managed by Macquarie Asset Management. This completes Downer’s exit from the laundries business, which operates as Linen Services Australia and Ensign in Australia and as Taylors Laundries in New Zealand, having previously sold 70.1% of the business to Adamantem Capital (Adamantem) in 2021. Adamantem and Downer have finalised the sale of 100% of the business to the Macquarie Asset Management-managed private equity fund, with Downer to receive pre-tax proceeds of approximately $64 million. The sale agreement was previously announced on 13 February 2025 and our interest in the business was classified as an asset held for sale at 31 December 2024. Managing Director and Chief Executive Officer, Peter Tompkins, said the sale aligns with Downer’s ongoing strategic focus on portfolio simplification, allowing the company to prioritise value creation in core markets with strong opportunities and a lighter capital profile. “This divestment further strengthens our balance sheet and provides optionality on a range of capital allocation initiatives,” Mr Tompkins said. Authorised for release by Downer’s MD and CEO, Peter Tompkins