UniFirst Corp.

UniFirst Corp.

UniFirst Corp.

Overview
Date Founded

1950

Headquarters

68 JONSPIN ROAD, WILMINGTON, MA, 01887

Type of Company

Public

Employees (Worldwide)

14K

Industries

Other Business & Consulting Services
Apparel & Footwear
Consumer Services

Company Description

UniFirst Corp. engages in the design, manufacture, personalization, rental, cleaning, delivery, and sale of a range of uniforms and protective clothing. It operates through following segments: U.S. Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, First Aid, and Corporate. The U.S. and Canadian Rental and Cleaning segment purchases, rents, cleans, delivers and sells uniforms and protective clothing and non-garment items in the United States and Canada. The Manufacturing segment designs and manufactures uniforms and non-garment items primarily for the purpose of providing these goods to the U.S. and Canadian Rental and Cleaning reporting segment. The Specialty Garments Rental and Cleaning segment sells specialty garments and non-garment items primarily for nuclear and cleanroom applications and provides cleanroom cleaning services at limited customer locations. The First Aid segment provides first aid cabinet services and other safety supplies as well as maintains wholesale distribution and pill packaging operations. The Corporate segment consists of costs associated with its distribution center, sales and marketing, information systems, engineering, materials management, manufacturing planning, finance, budgeting, human resources, other general and administrative costs and interest expense. The company was founded by Aldo Croatti in 1936 and is headquartered in Wilmington, MA.

Contact Data
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Executives & Employees

President, Chief Executive Officer, Director

Senior Vice President & Chief Financial Officer

Executive Vice President, Treasurer

Senior Vice President, Operations

Senior Vice President, Operations

Senior Vice President-Operations

Senior Vice President, Operations

Senior Vice President, Sales & Marketing

General Manager

General Manager

Board of Directors

Partner at Goodwin Procter LLP

Executive Vice President, Treasurer at UniFirst Corp.

Founder at Camilli Economics LLC

Former Partner at William Blair & Company LLC

Chief Executive Officer at PEAK Technical Services, Inc.

Former Partner at Arthur Andersen LLP

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Owners & Shareholders
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Echo Street Capital Management uses a variety of methods and strategies to make investment decisions and recommendations. Their analysis is primarily based on fundamental research, but that may be augmented by charting and cyclical analysis, as well as the use of quantitative tools and investment approaches. Echo Street's analysis focuses on valuation and value creation and seeks to understand what a company is worth, as well as what it is worth relative to other investment opportunities.Echo Street employs a variety of strategies in managing the assets of their hedge fund clients and managed account clients, including: Fundamental Value, Short Selling, Relative Value, Short Term Trading, Arbitrage Transactions, Option Trading, and Hedging. With regard to arbitrage transactions, Echo Street may consider opportunities in event-driven arbitrage, merger arbitrage, capital structure arbitrage, convertible arbitrage, fixed income or interest rate arbitrage, statistical arbitrage, debt spread arbitrage and index arbitrage. The firm utilizes a variety of financial instruments and derivatives such as options, interest rate swaps, forward contracts, swaption contracts, and credit default swaps for risk management purposes. When Echo Street engages in option trading, it is generally by writing puts or writing covered calls, but they may also buy options.On behalf of their long-only clients, Echo Street also pursues a variety of strategies, including: Long Only, Buy-and-Hold, Long-Term Investments, and Low Portfolio Turnover. The firm's long-only strategy does not engage in the short selling of equity securities. Echo Street may attempt to hedge certain investment risks (e.g., currency exposure) but generally will be less hedged to broader equity market forces than private investment funds that engage in the active short selling of equity securities. Echo Street generally employs a buy-and-hold strategy on behalf of their long-only clients in an attempt to capture the long-term value creation they believe the companies the long-only clients invest in create. It is intended that these clients have relatively low position turnover with a focus on tax efficiency.

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RRAM employ a highly disciplined, proprietary investment approach which they refer to as \"Absolute Value.\" The strategy incorporates the most proven and enduring principles of value equity investing, with a specific avoidance of the pitfalls associated with the common Deep Value and Relative Value investment styles. The objective of this approach is to generate attractive, sustainable, low volatility returns over the long-term, with emphasis on minimizing downside portfolio risk. Their approach is based on four principal tenants: a focus on excellent companies trading at compelling prices; bottom-up portfolio construction; a focus on less efficient areas of the equity market; and risk aversion. RRAM's strategies include: Small Cap Value and Small-Mid Cap Value; Dividend All-Cap Value and Dividend All-Cap Value II; Long-Short Equity; and Focused Absolute Value.

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NewSouth Capital Management seeks superior, risk-adjusted investment returns on both an absolute and relative basis. The firm manages four equity strategies: Small-Cap Value, Small/Mid Cap Value, Mid Cap Value and Value Opportunity, (an all-cap strategy). Market cap size distinctions are the only difference between these four strategies. Each one follows the same philosophy, and decisions are made by the same investment team. NewSouth ordinarily holds 25 to 35 companies in their portfolios. They believe that this level of concentration provides an adequate level of diversification and increases long-term opportunities for superior returns. NewSouth believes that most successful equity investments are made with a longer time horizon in mind. They focus on investments in businesses that offer above average returns over a 2 to 3 year period rather than focusing on short-term trading strategies.

Recent Transactions
Details Hidden

UniFirst Corp. purchases Arrow Uniform-Taylor LLC

Details Hidden

UniFirst Corp., UniFirst Canada Ltd. purchase McGuire Uniforms & Clothing, Inc.

Details Hidden

UniFirst Corp. purchases Western Uniform & Towel Service

Insider Transactions
Details Hidden
Details Hidden
Transaction Advisors
Accountant

Advised onUniFirst Corp. purchases Standard Management Corp.

Underwriter

Advised onUniFirst Corp. issued Common Stock

Accountant

Advised onUniFirst Corp. purchases Textilease Corp

Advisors & Consultants
Advisor

Principal at NAI Daus

Clients

Comcast Corporation (Nasdaq: CMCSA, CMCSK) is a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal. Comcast Cable is the nation’s largest video, high-speed Internet and phone provider to residential customers under the XFINITY brand as well as to businesses. NBCUniversal operates 30 news and entertainment cable networks, the NBC and Telemundo broadcast networks, television production operations, television station groups, Universal Pictures and Universal Parks & Resorts.

General Electric Co. is a technology and financial services company that develops and manufactures products for the generation, transmission, distribution, control and utilization of electricity. Its products and services include aircraft engines, power generation, water processing, security technology, medical imaging, business and consumer financing, media content and industrial products. The company operates through the following segments: Power, Oil & Gas, Aviation, Healthcare, Transportation, Appliances & Lighting and GE Capital. The Power segment serves power generation, industrial, government and other customers worldwide with products and services related to energy production. The Oil & Gas segment supplies mission critical equipment for the global oil and gas industry, used in applications spanning the entire value chain from drilling and completion through production, liquefied natural gas and pipeline compression, pipeline inspection, and downstream processing in refineries and petrochemical plants. The Aviation segment products and services include jet engines, aerospace systems and equipment, replacement parts and repair and maintenance services for all categories of commercial aircraft; for a wide variety of military aircraft, including fighters, bombers, tankers and helicopters; for marine applications; and for executive and regional aircraft. The Healthcare segment products include diagnostic imaging systems such as magnetic resonance, computed tomography and positron emission Tomography scanners, X-ray, nuclear imaging, digital mammography and molecular imaging technologies. The Transportation segment engages in global technology and supplier to the railroad, mining, marine and drilling industries. The Appliances & Lighting segment products include major appliances and related services for products such as refrigerators, freezers, electric and gas ranges, cooktops, dishwashers, clothes washers and dryers, microwave ovens, room air conditioners, residential water systems for filtration, softening and heating, and hybrid water heaters. The GE Capital segment offers financial services and products worldwide for businesses of all sizes, services include commercial loans and leases, fleet management, financial programs, credit cards, personal loans and other financial services. The company was founded by Thomas A. Edison in 1878 and is headquartered in Boston, MA.

In 1969, the Detroit-based J.L. Hudson Company merged with the Dayton Corporation to form the Dayton-Hudson Corporation

Key Stats and Financials As of 2018
Market Capitalization
$2.78B
Total Enterprise Value
$3.37B
Earnings Per Share
$8.21
Revenue
$1.7B
Total Equity
$1.46B
Net Profit
$164M
EBITDAMargin
16.55%
Enterprise Value Sales
1.99x
Enterprise Value EBITDAOperating
12x
TEVNet Income
20.56x
Debt TEV
0x
Total Debt
$0
EBITDA
$281M
Three Year Compounded Annual Growth Rate Of Revenue
5.21%
Five Year Compounded Annual Growth Rate Of Revenue
4.59%
Suppliers
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American Software (NASDAQ: AMSWA) provides demand-driven supply chain management and enterprise software solutions backed by more than 40 years of industry experience that drive value for companies regardless of market conditions. American Software, Inc. (American Software) develops, markets and supports a portfolio of software and services that deliver enterprise management and collaborative supply chain solutions to the global marketplace. The Company's software and services are designed to bring business value to enterprises by supporting their operations over intranets, extranets, client/servers or the Internet. It provides software solutions through three business segments, which are broken down into four product and service groups. The three business segments include Supply Chain Management (SCM), Enterprise Resource Planning (ERP) and Information Technology (IT) Consulting

GOJO Industries, Inc. Hospitals & Patient Services | Akron, Ohio

GOJO Industries, Inc. is the leading global producer and marketer of skin health and hygiene solutions for away-from-home settings. And now, after 70 years of providing skin care solutions to promote health and well-being, they’ve harnessed the power of the PURELL® brand to continue to create new products that deliver the ideal combination of powerful germ kill and safety for people and the environment. Their products allow you to get closer to your world, while keeping you protected from germs and harsh chemicals. As one of the most trusted names in hand hygiene, they’ve created a wide portfolio of skin health solutions, including heavy-duty hand cleaners, soaps and wipes that help keep skin healthy and clean.

Milliken & Co., Inc. Textiles | Spartanburg, South Carolina

By combining science with design and insights, Milliken tackles the issues and concerns of today. Every day, our community of innovators is invigorated by the challenge of finding creative ways to enhance people's lives and make the world around us easier, safer, more sustainable and more beautiful. Milliken has long led the way for "knowledge-based" investment, employing over 100 PhDs, and has accumulated over 2,200 U.S. patents - and more than 5,000 patents worldwide - since our founding in 1865. With 39 manufacturing facilities located in the U.S., U.K., Belgium, France and China, and with other sales and service operations throughout the Americas, Europe and Asia, Milliken's nearly 7,000 associates work to create entirely new customer experiences, build for the future and create products that do good for the world.

Competitors
Aramark Restaurants - Philadelphia, PA

Aramark engages in the provision of food, facilities, and uniform services. It operates through the following business segments: Food and Support Services United States (FSS United States); Food and Support Services International (FSS International); and Uniform. The FSS United States segment offers food, hospitality and facility services for school districts, colleges and universities, healthcare facilities, businesses, sports, entertainment and recreational venues, conference and convention centers, national and state parks, and correctional institutions. The FSS International segment covers food, refreshment, specialized dietary and support services, including facility maintenance and housekeeping, provided to business, educational and healthcare institutions and in sports, leisure, and other facilities serving the general public. The Uniform segment comprises of rental, sale, cleaning, maintenance, and delivery of personalized uniforms and other textile items on a contract basis, and direct marketing of personalized uniforms, and accessories to clients. The company was founded in 1959 and is headquartered in Philadelphia, PA.

Cintas Corp. Consumer Services - Cincinnati, OH

Cintas Corp. engages in the provision of corporate identity uniform through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, All Other, and Corporate. The Uniform Rental and Facility Services segment consists of rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items. The First Aid and Safety Services segment comprises of first aid and safety products and services. The All Other segment includes fire protection services and its direct sale business. The Corporate segment consists of corporate assets such as cash and marketable securities. The company was founded by Richard T. Farmer in 1968 and is headquartered in Cincinnati, OH.

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