About the Company
Cintas Corporation is a Cincinnati, Ohio, based company that offers specialised services to companies located in Canada and USA. As of 2020, it had operations in 48 states of the US and 5 locations in Canada, namely Quebec, British Columbia, Ontario, Alberta and Nova Scotia. The company has a workforce of 45,000 employees across these locations, serving over 1 million customers. It has around 500 facilities across North America, including eleven distribution centres and five manufacturing facilities.
It provides services and products under seven categories - facility services, first aid & safety, uniforms & apparel, flame resistant clothing, fire protection, promotional products and training & compliance. The industries that it serves are gaming, food service, hospitality, healthcare, government, education, and automotive. For the 2020 pandemic, Cintas also offered companies with essential products and services like a scrub rental program, disposable gloves, disinfectant & sanitiser spray services, microfiber cleaning tools, Signet cleaning chemicals, etc.
It was founded in 1929 by Richard Farmer as the Acme industrial laundry company. It initially collected chemical-stained clothes from factories, washed them, and then returned those in exchange for a fee to customers. By the onset of the 1940s, towels replaced these rags, and the company adopted a new name, Acme Wiper and Industrial Laundry. In 1956 Farmer’s grandson joined the business, which had only 15 employees at that time. He improved its revenue, changed its business model and in 1972 changed its name to Cintas.
Cintas put out an IPO in 1983 and started trading in the NASDAQ stock exchange under the trading symbol CTAS. It is a component under both the NASDAQ 100 and S&P 500 companies as of 2020. The company entered the Fortune 500 list in 2018, and as of 2020, held the 441st rank in that list. Over the years it has acquired over 220 companies, among which two of its significant acquisitions include McKesson Corporation’s Zee Medical for $130 million in 2015, and G&K services for $2.2 billion in 2016.;
|Industry||Specialty Business Services|