A Co Offaly-based cleanroom laundry business that serves large microchip, pharmaceutical and medical technology firms has been acquired by a Nasdaq-listed company based in Minnesota. Simon Carswellreports.

The takeover of Nanoclean, the Birr-based company owned by brothers Barry and Eddie Geoghegan, by G&K Services is the US company's first investment in Ireland.

Nanoclean was founded in 1997 as a joint venture between Barry Geoghegan and UK firm Countdown Clean Systems. Mr Geoghegan's brother Eddie became a shareholder in 2000 when the UK firm's shares were bought out. Nanoclean employs 17 people in Birr and its clients include Intel.

"Myself and Barry didn't have the resources to expand the business any further so we contacted people who might be interested in buying it," said Eddie Geoghegan, who is general manager of the company. His brother has left the business following the takeover by the US firm. He declined to discuss the financial aspects of the deal. Due to a confidentiality agreement, the terms have not been disclosed.

Eddie Geoghegan said Nanoclean was G&K's first acquisition of a cleanroom laundry in Europe.

Nanoclean came into contact with the US firm through one of its clients. "We're pleased to expand our cleanroom operation with the acquisition of Nanoclean," G&K's chairman and chief executive, Richard Marcantonio, said in a statement. "Nanoclean provided G&K with a strategic presence in Ireland to expand the business and strengthen our relationships with key customers."

The US firm has more than 160 facilities and branches, serving more than 160,000 customers.

Nanoclean had fixed assets of €229,000 and retained losses of €1.9 million at the end of 2006, according to its accounts.