Vestis Corporation Market Research Report

Background

Vestis Corporation is a leading provider of uniform rentals and workplace supplies across the United States and Canada. With over 75 years of experience, the company serves more than 300,000 customer locations, offering a comprehensive suite of services including full-service uniform rental programs, workplace provisions such as towels and aprons, floor care (mats), linen services, managed restroom supply services, first aid and safety products, and cleanroom and other specialized garment processing.

Key Strategic Focus

Vestis operates in an estimated $48 billion industry that is large, growing, and highly fragmented, presenting substantial opportunities for growth. The company's strategic focus includes:

Comprehensive Service Offering: Providing a full range of uniform programs and workplace supplies to meet diverse customer needs.

Diverse Customer Base: Serving industries such as manufacturing, hospitality, retail, food processing, pharmaceuticals, healthcare, and automotive.

Scalable Operations: Leveraging a broad footprint and efficient delivery systems to serve customers ranging from small, family-owned operations to large corporations and national franchises.

Financials and Funding

In fiscal year 2023, Vestis generated revenue of approximately $2.8 billion, with operating income of $217.9 million, representing 7.7% of revenue. Net income for the same period was $213.2 million, or 7.5% of revenue. Cash provided from operating activities was $257.0 million. Revenue from the recurring rental business comprised 93% of total revenue, with 7% from direct sales.

Technological Platform and Innovation

Vestis differentiates itself through:

Proprietary Manufacturing: Operating two manufacturing facilities in Mexico, producing approximately 60% of uniforms and linens, ensuring quality control and supply chain efficiency.

Advanced Logistics: Utilizing a network of over 350 facilities, including laundry plants, satellite plants, distribution centers, and manufacturing plants, along with a fleet of service vehicles supporting over 3,300 pick-up and delivery routes.

Sustainability Initiatives: Committed to minimizing fuel usage, energy, and water consumption, and maximizing garment life cycles to support the circular economy.

Leadership Team

Kim Scott: President and Chief Executive Officer. Joined in October 2021; previously served as COO of Terminix Global Holdings and President of Rubicon Global.

Kelly Janzen: Executive Vice President and Chief Financial Officer. Joined in February 2025; former CFO of BlueLinx Corporation.

Bill Seward: Executive Vice President and Chief Operating Officer. Joined in September 2024; previously President of UPS Supply Chain Solutions.

Butch Bouchard: Executive Vice President, Chief Legal Officer, General Counsel & Corporate Secretary. Joined in February 2025; former CLO and General Counsel at Team, Inc.

Angie Kervin: Executive Vice President and Chief Human Resources Officer. Appointed in January 2023; held progressive HR roles at Aramark Uniform Services since 2010.

Grant Shih: Executive Vice President and Chief Technology Officer. Joined in January 2023; former CIO for National DCP.

Leadership Changes

Recent significant appointments include:

Kelly Janzen: Appointed as CFO in February 2025, succeeding Rick Dillon.

Bill Seward: Appointed as COO in September 2024, succeeding Chris Synek.

Butch Bouchard: Appointed as Chief Legal Officer in February 2025, succeeding Timothy Donovan.

Competitor Profile

Market Insights and Dynamics

The uniform and workplace supplies industry in the United States and Canada is estimated at $48 billion, characterized by fragmentation and significant growth potential. Demand is influenced by macroeconomic conditions, employment levels, and increasing standards for workplace hygiene and safety.

Competitor Analysis

Key competitors include:

Cintas Corporation: A major national competitor with significant financial resources, offering similar uniform and workplace supply services.

UniFirst Corporation: Another notable competitor providing uniform rental and facility services.

The industry also comprises numerous regional and local providers, as well as businesses that perform certain aspects of these services in-house.

Strategic Collaborations and Partnerships

Vestis has a history of providing uniforms to certain food and support services contracts of Aramark in the United States and Canada, with related party revenues of $54.6 million in fiscal year 2023.

Operational Insights

Vestis operates a network of over 350 facilities, including laundry plants, satellite plants, distribution centers, and manufacturing plants, along with a fleet of service vehicles supporting over 3,300 pick-up and delivery routes. The company leverages its broad footprint, supply chain, delivery fleet, and route logistics capabilities to serve customers on a recurring basis, typically weekly, and primarily through multi-year contracts.