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Fairness Opinion Detail

UniFirst Corporation to Cintas Corporation

Services/Mar 2026/Goldman Sachs, JPMorgan

Deal Information

Target
UniFirst Corporation
Acquiror
Cintas Corporation
Sector
Services
Target Type
Public
Acquiror Type
Strategic
Advisors
Goldman Sachs, JPMorgan

Transaction Metrics

Enterprise Value
$5.5B
EV / LTM Sales
2.2x
EV / LTM EBITDA
17.0x
EV / Fwd EBITDA

Advisor Transaction Comparables

Comparable transactions cited by the advisor, excluding the subject transaction.

Advisor: Goldman Sachs

EV/LTM Adjusted EBITDA selected range: 11.7x - 14.2x

3 comps
Oct 2017AmeriPrideAramark--14.2x-
Dec 2016LavebrasElis--11.7x-
Aug 2016G&K ServicesCintas--14.0x-
Mean-13.3x-
Median-14.0x-

Advisor: JPMorgan

FV/LTM EBITDA selected range: 11.7x - 14.2x

3 comps
Aug 2016G&K Services, Inc.Cintas Corporation----
Dec 2016Lavebras Gestão de Têxteis S.A.Elis SA----
Oct 2017AmeriPride Services Inc.Aramark----
Mean---
Median---