The largest players in our industry got that way largely through acquisitions. When we first wrote about this in 2021, we estimated that the top four national providers had grown from under 15% of the market to more than 60% over 25 years, mostly through M&A.

The pace hasn’t slowed. Aramark spun off its uniform business as Vestis in 2023. In March 2026, Cintas agreed to acquire UniFirst in a deal valued at about $5.5 billion, and the companies expect it to close by the end of 2026 pending regulatory review. If it closes, the national tier gets smaller and more concentrated again.

So why do so few small and mid-size operators buy? Some don’t have the appetite, and that’s fair. M&A costs more and carries more risk than organic growth, and it brings a new set of problems. But it can also grow your business, extend your territory, and add capabilities faster than anything else. That makes it worth a hard look.

Start with why

Some owners think, “We have cash sitting idle. Maybe we should buy someone.” Having the money matters, but it shouldn’t be the reason.

Most acquisitions succeed or fail long before closing. Buyers who are clear on what they want find better targets. Three reasons come up most often.

Entering a new market. You can grow into a new territory with your own sales team: blitz for route volume, open a depot once there’s enough density, maybe add a plant years later. That takes time and may not work in a crowded market. An acquisition gets you there at once, often with an established name and real share. Over time you fold the locations into one brand.

Defending the market you’re in. Organic share gains get harder as a market matures. When a local competitor decides to sell, you get a rare chance to add share and keep a rival from adding it instead.

Adding capabilities. Each segment (industrial, food and beverage, healthcare, hospitality) takes its own know-how. If your best growth is in a segment you don’t serve, buying a company that already does it well is often the clearest path in.

Where acquisitions go wrong

Few deals are a perfect fit, and they don’t need to be. Perfect is often the enemy of good. Expect some compromise.

Price gets the attention, but it’s rarely the hardest part. Once the value works, the real challenges are integration and running the combined business.

Culture comes first. If the two companies work in very different ways, moving forward together will be difficult at best.

Plan to keep the customers. They chose the company you’re buying, and they may have chosen it over you. Some may be your former customers. Expect to win them over again.

Plan to keep the people. Some employees have worked for one family for decades. Change is hard on them. Build real relationships with key managers, and consider a financial reason for them to stay long enough to see what your company is like. Keep the managers and you usually keep more of the frontline team. Keep the frontline team and you keep more customers.

Sitting out is a decision too. Every competitor that sells to someone else makes that buyer stronger against you. If you choose not to take part, be sure you’re comfortable with that outcome.

Get help from someone who knows the industry

If you’re not sure where to start, an advisor who knows both linen and uniform services and your markets can help you build a list of candidates where you operate and where you’d like to. A good advisor will set expectations on value, test returns and cash flow, lead diligence, bring in legal and tax specialists, and help you plan the integration.

Acquisitions carry risk. Done well, they strengthen your position for years. Done by someone else, they can limit your room to grow.