Coinamatic Canada Inc.

Coinamatic Canada Inc.

August 18, 2011 12:10 ET

Coinamatic Canada Inc. Announces Acquisition of Venda Wash

MISSISSAUGA, ONTARIO--(Marketwire - Aug. 18, 2011) - Coinamatic Canada Inc., Canada's largest laundry route operator and the Canadian leader in the innovation, development and delivery of customized multi-residential and commercial laundry solutions, announced that it has signed a definitive agreement to acquire Venda Wash, Atlantic Canada's largest laundry route operator, effective August 31, 2011.

The acquisition of Venda Wash increases Coinamatic's market share in Atlantic Canada enhancing the companies' future growth and performance as well as offering true "coast to coast" coverage to our valued Clients and Customers.

Sean Smith, President and CEO of Coinamatic states that "We are excited about joining forces with Venda Wash. Our two organizations share a focus to the customer experience that can best be summarized as high integrity in all that we do, fair dealing and delivering exceptional levels of service. We plan to extend our focus to include commercial laundry solutions in Atlantic Canada and continue to grow our base of customers."

Dean Pike, General Manager and part-owner of Venda Wash comments that "The management and staff of Venda Wash Coin Laundry Systems Inc. are extremely happy to be joining forces with Coinamatic Canada Inc. Being acquired by the largest Route Operator in Canada will open up many more opportunities and advancements in technologies which will be to the benefit of the existing customer base of Venda Wash. This is an exciting new chapter for Venda Wash and while the name will change, the faces will remain the same."

About Coinamatic:

Coinamatic is a Canadian, privately owned, professionally-managed company founded in Montreal in 1946. Widely recognized as one of the leading companies in the North American multi-housing laundry industry, Coinamatic is considered Canada's largest laundry route operator serving over 1.5 million Canadians in over 11,000 locations across Canada. Coinamatic is head-quartered in Mississauga, Ontario, with branch facilities located in Vancouver, Calgary, Edmonton, Winnipeg, Regina, Windsor, London, Mississauga, Ottawa, Montreal, Quebec City and Halifax.

About Venda Wash:

Located in Halifax, Nova Scotia, Venda Wash is Atlantic Canada's largest laundry route operator providing vended laundry equipment to a diverse portfolio of customers including both large and small private and public sector landlords. A family-owned company since the 80's, Venda Wash proudly services over 25,000 Atlantic Canadians.

For additional information contact Susan Reynolds, Director, Business Services for Coinamatic at 1-800-361-2646.

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