On July 3, 2024, The Bidvest Group Limited announced its agreement to acquire 100% of Citron Hygiene LP from Birch Hill Equity Partners and other investors. The acquisition, valued at an undisclosed amount, is pending approval from the UK Competition and Markets Authority, expected within five months. Citron, founded in 1974 and headquartered in Toronto, provides washroom hygiene products and services across the USA, Canada, and the UK. The company serves around 50,000 customer locations in sectors such as manufacturing, hospitality, and healthcare, with 90% of its revenue being recurring. Bidvest aims to leverage Citron’s strong market position, experienced management team, and growth potential to enhance its Services International division and expand its footprint in North America and optimize operations in the UK. The transaction will be funded through Bidvest's variable rate Revolving Credit Facility. Legal advisors for Bidvest included Davies Ward Phillips & Vineberg LLP, Baker & McKenzie, and Investec Bank Limited, while Stikeman Elliott LLP advised Citron and its shareholders. Financial and transactional services were provided by Barclays UK plc, Deloitte LLP, Deloitte South Africa, BDO Corporate Finance, and Niche Advisory. The acquisition is anticipated to be effective by the end of 2024.