Emerald Sri Lanka Fund invests Rs.158mn in centralized laundry services provider
Abeysekera (Chairman, CLM), Senaka Kakiriwaragodage (Managing Director- NDB Zephyr), Chinthaka Abeysekera (CEO- CLM) and Anjula Koralagamage (Head of Finance, CLM)
Emerald Sri Lanka Fund invested Rs. 158 million (US$ 1.08 million) in Cleanline Linen Management (Pvt) Ltd. (CLM), a centralized laundry services provider in Sri Lanka.
CLM will utilize the capital for completion of the laundry facility and thereby offer laundry services to hotels and other institutions. The total investment in the project by CLM is approximately Rs. 1 billion.
CLM, as a part of its value proposition, adopts sustainable environmental practices by implementing energy and water conservation methods and efficient waste management systems. The facility will include a comprehensive raw water and waste water treatment plant, a water recycling unit, an LPG storage facility and a technical workshop that will serve as key support services.
Chinthaka Abeysekera, founder of CLM, is a specialist in environmental sustainability and his current engagements include managing healthcare waste for both state sector and private sector hospitals in
Sri Lanka.
CLM has partnered with Kannegiesser, leading laundry technology solutions provider from Germany, to provide design, implementation and post-implementation support for the project.
CLM has also linked up with Zero Spot, one of the largest commercial laundry service provider in Singapore that provides exclusive services to major hotel chains. They will be sharing their over two decades of experience and expertise with CLM to maintain best global operational standards.
“This venture will change the approach to laundry services in Sri Lanka with a greater emphasis on quality while safeguarding the environment. As the hospitality industry in Sri Lanka continues to sustain its growth momentum, CLM will be able to cater to increasing demands in the industry” said Senaka Kakiriwaragodage, Managing Director of NDB Zephyr Partners. NDB Zephyr Partners is the management company of Emerald Sri Lanka Fund, a US$ 42.5 million dedicated Private Equity Fund for Sri Lanka.
“Cost-effective solutions are possible whilst being environmentally and socially responsible. CLM has packaged this concept with a service driven approach and great emphasis on the quality of delivery, andit will propel CLM to the forefront of the hospitality services sector” said Chinthaka Abeysekera.
