The recent acquisition of carbon-neutral laundry company Oxwash by French hygiene corporation Elis speaks volumes about the attractiveness of a genuinely sustainable operation.
Oxwash, founded by PhD student Kyle Grant-Talbot in 2018, is one of many successful Oxfordshire start-ups that have grown to become targets for inward investors. With its mission to eliminate the impact of washing on the planet and people, Oxwash’s sustainability values are thoroughly ingrained – and proven by its B Corp status.
Organisations become B Corps by meeting stringent and demanding criteria on sustainability, people, governance and environment. Oxwash became the world's first B Corp certified laundry and wet-cleaning service in 2022, receiving the recognition shortly before its first £10 million Series A funding raise.
Oxwash has thrived in Oxfordshire, where there are other examples of companies committed to sustainability principles doing well. Ella’s Kitchen is a B Corp baby food business that began with two people in Henley-on-Thames. In 2013 it was sold to US firm Hain Celestial and is now the largest UK baby food brand and a global business.
Other Oxfordshire firms with B Corp certification are retailers New Ground Coffee and underwear company Y.O.U.. There are also a number of consultancies such as executive search firm Oxford HR, sustainability consultancy 3keel.com, and reputation management and policy advisory company Fourtold, which was founded in Oxford in 2013 and now has offices in London and Brussels.
Last year Oxford became the centre of the B Corps universe when it hosted the largest global gathering of B Corp companies, bringing together over 1,300 attendees to exchange ideas and challenge one another on redefining the role of business in the economy.
Britain has a greater concentration of B Corp companies than any other country. More than 2,600 UK firms have B Corp status, out of a global total of 10,000 and their combined revenues are growing at a combined average of 20% per year. [1] Most of the companies are small to medium-sized enterprises, and many grow to attract the interest of external investors.
Here, the scrutiny works both ways. Oxwash’s CEO Kyle Grant-Talbot was satisfied with the credentials of its acquirer, saying: “Joining Elis, a company recognised by EcoVadis and committed to its Science Based Targets, provides an excellent fit for our carbon-neutral model, accelerating the transformation of textile care into a truly sustainable industry.”
Image provided by Oxwash
[1] https://observer.co.uk/news/business/article/wave-of-british-b-corps-shows-firms-can-be-a-force-for-good-and-still-turn-a-profit