Expands and combines complementary service capabilities to enhance workday solutions for approximately 1.5 million business customers across North America.
Both companies share strong customer-first cultures, operational excellence, and compatible business models.
Positions the combined entity to better compete in a fragmented, competitive market with significant growth opportunities.
Accelerates innovation and technological advancements by integrating infrastructure, technology, and route networks.
Provides a holistic, customer-driven value proposition with diversified offerings and meaningful opportunities for employees.
UniFirst shareholders receive $310 per share: $155 in cash and 0.7720 shares of Cintas stock per UniFirst share, based on Cintas' closing price on March 9, 2026.
The transaction values UniFirst at $5.5 billion enterprise value, representing 8.0x run-rate trailing twelve months EBITDA including synergies.
Acquisition financed with cash on hand, committed credit lines, and fully committed bridge financing; pro forma leverage expected at 1.5x debt to EBITDA at closing.
$350 million reverse termination fee payable if merger is blocked on antitrust grounds.
Estimated $375 million in operating cost synergies within four years, from procurement, SG&A integration, logistics, automation, and technology enhancements.
Synergies expected to be accretive to earnings per share by the end of the second full year post-closing.
Revenue synergies are not modeled but are anticipated over time through cross-selling and expanded offerings.
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