US Company Secures Performance and Funding Ahead of 5 Trillion Won Uniform Mega Deal

Cintas Corp (CTAS) reported that for the third quarter of fiscal 2026, ended February 28, revenues rose 8.9% year-over-year to about $2.84 billion (approximately KRW 3.7 trillion), lifted its gross margin to 51%, and delivered a 9.7% increase in diluted EPS. Upon announcing the definitive agreement to acquire UniFirst, the company raised its full-year 2026 revenue guidance to around $11.2 billion (about KRW 15 trillion) and increased its adjusted EPS outlook, excluding non-recurring acquisition-related costs.

Cintas also secured a new revolving credit facility—available through 2031—to finance the acquisition, refinance its existing bridge loan, and support working capital and general corporate purposes.

In the latest development, Cintas signed a final agreement to acquire competitor UniFirst in a cash-and-stock deal valued at $310 per share, representing an enterprise value of about $5.5 billion (roughly KRW 7 trillion). The transaction is expected to close in the second half of 2026.

Additionally, Cintas, through a subsidiary, entered into a five-year, $2.0 billion unsecured revolving credit facility arranged by KeyBank and terminated its previous credit agreement from 2022—actions that strengthen both its balance sheet and acquisition capacity.

Headquartered in Ohio, Cintas is a business services company offering uniform rental; floor mats and cleaning supplies; restroom and safety products; and fire and safety training. It is listed on NASDAQ and is a member of the S&P 500. Its industrial uniform and facilities services sector is built on long-term contracts and recurring revenues, serving a diverse customer base across industries with varying economic sensitivities, which has driven ongoing mergers, acquisitions, and market consolidation in the U.S.