Cintas
 is an American multinational corporation headquartered in Mason, Ohio, that provides rental and sales of corporate identity uniforms, along with facility services including mats, mops, restroom supplies, first aid and safety products, and fire protection to over 1 million businesses primarily in North America.[1][2][3] Founded in 1929 during the Great Depression by Richard "Doc" Farmer and his wife Amelia as Acme Industrial Laundry Company in Cincinnati, Ohio, the business initially focused on laundering and recycling industrial rags from factories before expanding into uniform rentals under the leadership of Doc's son, Richard T. "Dick" Farmer, who joined in 1965 and transformed it into a major enterprise.[4][5][6] By fiscal year 2025, ending May 31, Cintas reported revenue of $10.34 billion, up 7.7% from the prior year, with approximately 48,300 employees, reflecting sustained growth through organic expansion and acquisitions in a competitive service industry.[7][8] The company has faced legal challenges, including class-action lawsuits over retirement plan management settled for $4 million in 2024 and disputes with labor unions leading to RICO claims by Cintas against organizing efforts, though these have not materially hindered its operational expansion or market position.[9][10]History
Founding and Early Expansion (1929–1970s)
Cintas Corporation originated in 1929 when Richard "Doc" Farmer and his wife Amelia began collecting and laundering used industrial rags in Cincinnati, Ohio, after the Great Depression shuttered the circus where they had performed as aerialists.[4] Operating initially as Acme Industrial Laundry Company from a small facility, the business addressed demand for economical cleaning supplies amid widespread economic distress, evolving from rag salvage into a rental service model.[5][11] The early years involved overcoming natural disasters that tested resilience: a 1938 Ohio River flood destroyed the original plant, leading to relocation to Norwood, Ohio, and a rebranding to Acme Wiper and Industrial Laundry.[4] In 1940, Doc's son Hershell assumed leadership, redirecting efforts toward shop towel rentals to stabilize operations as a service-oriented enterprise.[4] A 1946 fire razed the Norwood facility, prompting construction of a durable concrete replacement that served until 1962.[4] Following Doc's death in 1952, Hershell maintained conservative growth without debt, but the business remained regionally confined with modest scale.[5] Expansion accelerated in 1957 when Hershell's son, Richard T. "Dick" Farmer, joined full-time at age 22 and pivoted toward uniform rentals, a strategic shift that nearly doubled revenues by 1959 via dedicated sales hires.[4][11] By 1962, revenues had grown sixfold from prior levels, coinciding with a move to a larger Ridge Road plant and the opening of the first out-of-state branch in Richmond, Indiana.[5] The 1960s saw further diversification, including the 1964 name change to Acme Uniform and Towel Supply, the 1965 acquisition of Perfection Laundry and Towel Supply (rebranding to Acme Uniform and Linen, Inc.), and collaboration on durable 65/35 polycotton fabric blends in 1966, which enhanced uniform longevity.[4] Annual revenue approached $2 million by 1967, supported by operational efficiencies.[4] In 1968, Richard T. Farmer established Satellite Corporation to centralize distribution and mitigate merger tax issues, acquiring Kleen Uniform Linen Supply in Cleveland as an initial step.[5] Acme merged into Satellite in 1970, streamlining structure ahead of broader growth.[4] By 1973, the company rebranded to Cintas—derived from "conservative, integrity, no trouble added service"—with sales surpassing $10 million and operations spanning 13 states, including new facilities in Midwest hubs like Chicago and Detroit.[4][11] This period marked the transition from local linen supplier to a multi-state uniform service provider, driven by family-led innovation and opportunistic acquisitions rather than external financing.[5]Public Listing and National Growth (1980s–1990s)
Cintas Corporation went public in 1983, offering a minority stake at $17 per share on the over-the-counter market, which provided capital for further expansion.[5] The company transitioned to trading on the NASDAQ exchange in 1984.[4] In fiscal year 1983, revenues stood at $63 million, reflecting a solid base for leveraging public markets to fund acquisitions and operations.[5] Throughout the 1980s, Cintas pursued national growth by entering 17 new geographic markets, primarily through targeted acquisitions of smaller uniform rental firms, which enabled rapid scaling without building facilities from scratch.[5] A notable early move was the 1980 acquisition of Industrial Towel and Uniform in Houston, Texas, strengthening its presence in the South.[4] Revenues doubled to approximately $285 million by 1989, driven by this consolidation strategy amid an industry growing at over eight percent annually.[5] In the 1990s, expansion accelerated with the addition of 70 new cities between 1992 and 1997, further solidifying Cintas's national footprint in uniform rental and related services.[5] Sales reached $401.5 million in 1992, up 13.9 percent from the prior year.[12] The company intensified acquisitions, completing 65 deals from 1997 to 1999, including Uniforms to You in 1998 (with about $150 million in sales) and Unitog Co. in 1999 (a $357 million transaction that elevated Cintas to the largest uniform rental provider in North America).[5] Revenues surpassed $1 billion in 1998, capping three decades of uninterrupted sales and profit growth.[4] Leadership transitions supported this phase, with Bob Kohlhepp ascending to president and COO in 1985, then CEO in 1996, while Scott Farmer became president and COO in 1998.[4]Modern Expansion and Challenges (2000s–Present)
In the 2000s, Cintas pursued aggressive expansion through strategic acquisitions, including the purchase of Unitog Company in 2000, which solidified its position as North America's largest uniform rental provider and marked 30 consecutive years of sales and profit growth.[4] Further deals in 2002 encompassed uniform rental firm Omni Services and first-aid providers such as Petragon and American First Aid, broadening service offerings beyond core uniforms into safety and facility management.[13] This acquisition strategy continued into the 2010s, culminating in the 2017 acquisition of G&K Services for approximately $2.2 billion, its largest deal to date, which boosted rental revenue by 25% and propelled annual revenue past $5 billion while eliminating a key competitor and enhancing route density.[14] [4] Cintas extended operations internationally during this period, establishing facilities in Canada and the United Kingdom while focusing primarily on North American markets through over a dozen acquisitions across the U.S. and select foreign sites.[15] Revenue growth reflected this scaling, rising from around $2 billion annually in the early 2000s to $10.34 billion in fiscal year 2025, with organic growth of 8.0% driven by expanded customer bases in uniform rental, first aid, and hygiene services.[16] The company joined the S&P 500 index amid this trajectory, underscoring sustained financial momentum despite economic cycles.[17] Cintas encountered legal challenges, primarily related to employment practices, including multiple U.S. Equal Employment Opportunity Commission (EEOC) lawsuits alleging sex and race discrimination in hiring and compensation. In 2015, it settled a class-action claim for $1.5 million over failure to hire women as service sales representatives in Michigan from 1999 to 2009, without admitting liability.[18] Similar resolutions included a $152,500 payment in 2010 for sexual and racial harassment claims at a facility and $424,463 in 2019 for hiring and pay disparities affecting minorities and women as a federal contractor.[19] [20] In 2019, an additional $650,000 settlement addressed compensation bias against female, Black, and male production workers in Philadelphia.[21] More recently, in 2022, class claims advanced against Cintas by Southwest Airlines employees alleging health issues from toxic uniforms supplied by the company.[22] These cases, often resolved via consent decrees, highlighted ongoing scrutiny of hiring and workplace policies amid rapid growth.Acquisition Strategy and Key Deals
Cintas Corporation's acquisition strategy emphasizes both incremental "tuck-in" purchases to bolster local customer bases, distribution routes, and operational capacity, and larger bolt-on deals to penetrate new service categories and geographic markets. This dual approach has enabled the company to achieve rapid scale in its core uniform rental business while diversifying into complementary segments such as first aid and safety, fire protection, document management, and facility services, thereby reducing reliance on any single revenue stream and capturing synergies in processing, distribution, and cross-selling.[4][23] The strategy aligns with Cintas' focus on long-term organic and inorganic growth, as outlined in its fiscal 2025 annual report, where acquisitions are prioritized alongside share repurchases and dividends, contingent on favorable economic conditions and valuation opportunities.[16] Early acquisitions laid the foundation for national expansion. In 1965, Cintas acquired Perfection Laundry and Towel Supply, prompting a rebranding to Acme Uniform and Linen Supply, Inc., to reflect its evolving rental operations.[4] The 1980 purchase of Industrial Towel and Uniform in Houston represented the company's largest deal to that point, targeting high-growth urban markets to enhance route density.[4] The 1990s marked entry into specialized services: the 1993 acquisition of Maryatt Industries introduced cleanroom garment handling, while 1997's purchase of American First Aid launched the First Aid & Safety division.[4] The 1999 acquisition of Unitog Co. solidified Cintas as North America's leading uniform rental provider by integrating Unitog's manufacturing and distribution assets.[4] Diversification accelerated in the 2000s. The 2002 acquisition of Omni Services expanded into restroom hygiene supplies, and 2003 deals for Kamp Fire Equipment and Smartshred added fire protection services and document destruction capabilities, respectively.[4] Later additions, such as the 2011 purchases of Cleanway Industries and Chemtron for industrial cleaning, and the 2013 acquisition of DunnWell to build a national fire protection network, further broadened the portfolio.[4] The most transformative deal occurred in 2017 with the $2.2 billion acquisition of G&K Services, announced on August 16, 2016, at $97.50 per share; it boosted rental revenue by 25%, elevated total annual revenue beyond $5 billion, and generated projected annual synergies of $130–140 million through combined processing facilities and administrative efficiencies.[24][14][4] In January 2025, Cintas proposed acquiring rival UniFirst Corporation for $275 per share in cash, valuing it at approximately $5.3 billion—a 46% premium to UniFirst's 90-day average stock price—but withdrew the unsolicited offer in March 2025 following UniFirst's rejection, citing inadequate terms and execution risks.[25][26]Business Operations
Core Products and Services
Cintas Corporation's core business revolves around the rental, cleaning, and maintenance of uniforms and work apparel, serving industries such as manufacturing, healthcare, hospitality, and automotive. The company provides a comprehensive uniform rental program that includes weekly pickup and delivery of garments, soil removal, industrial laundering, repairs, and replacement to ensure consistent availability and hygiene for employees.[27] This service model emphasizes durable, branded apparel options like shirts, pants, jackets, and coveralls, often customized with company logos to enhance professional image and compliance with industry standards.[28] Beyond apparel, Cintas delivers facility services including floor care and restroom hygiene supplies. Floor maintenance involves mat rental, cleaning, and treatment to reduce slip-and-fall risks and improve aesthetics, while restroom services provide dispensers for soap, paper products, air fresheners, and sanitizers with scheduled restocking to maintain cleanliness and reduce waste.[29] These offerings are designed for high-traffic environments, with products like bio-based cleaners and odor counteractants supporting environmental and health compliance.[30] The company also supplies first aid and safety products, encompassing kits, cabinets, personal protective equipment (PPE) such as gloves, eyewear, hearing protection, and respirators, as well as over-the-counter medications like pain relievers and antiseptics.[31] Fire protection services include extinguisher inspections, maintenance, and training, ensuring regulatory adherence under standards like those from the National Fire Protection Association. Flame-resistant clothing and high-visibility gear further address workplace hazards in sectors like construction and utilities.[3] These integrated services aim to minimize operational disruptions while promoting employee safety and facility efficiency.[1]Rental, Maintenance, and Distribution Model
Cintas operates a subscription-based rental model for uniforms, workwear, floor mats, towels, and related facility services, where customers contract for ongoing provision, cleaning, and replacement of items tailored to their industry and workforce size.[32] Each participating employee typically receives an initial allocation of 11 garments, enabling rotation for daily use while soiled items are collected weekly.[33] This recurring service structure ensures hygiene and compliance with occupational standards, as Cintas handles all inventory management without upfront capital outlay or maintenance burden on the customer.[34] Maintenance involves industrial laundering processes designed to remove contaminants, soils, and odors through hygienic cleaning methods, allowing employees to change uniforms before and after shifts for safety in sectors like manufacturing and food processing.[35] Repairs are performed proactively, with 97% of issues detected and addressed prior to redelivery, supplemented by automatic replacements for irreparable damage to maintain program integrity.[32] These services extend beyond apparel to facility items, incorporating disinfection and quality checks at Cintas' processing facilities to meet regulatory requirements for sanitation.[27] Distribution relies on a network of over 11,700 dedicated routes across the United States and Canada, supported by 12 regional distribution centers that facilitate efficient logistics from sourcing to delivery.[36] Route service representatives or drivers conduct weekly pickups and drop-offs using branded trucks, ensuring timely replenishment synchronized with customer operations and minimizing disruptions.[27] The supply chain integrates 3,000 suppliers, three manufacturing plants, and annual sourcing of 42 million units, enabling scalable fulfillment through centralized planning and localized execution.[37]Supply Chain and Technological Innovations
Cintas maintains a vertically integrated supply chain that supports its uniform rental and facility services model, encompassing strategic sourcing, manufacturing, and distribution across North America. The company operates five manufacturing facilities and 12 distribution centers as of fiscal year 2024, enabling efficient production and logistics for its rental programs.[38] These facilities handle the processing, laundering, and delivery of garments and products to over 1 million customer locations weekly via a fleet exceeding 10,000 service vehicles.[39] Sourcing constitutes a core element, with Cintas procuring approximately 42 million units annually from around 3,000 suppliers spanning 21 countries, involving an estimated $900 million in annual spend managed by 1,800 dedicated employee-partners.[37] The company emphasizes supplier diversity and compliance, conducting training for supply chain personnel on ethical issues including human trafficking prevention under the California Transparency in Supply Chains Act.[40] This network ensures replenishment and production planning aligned with customer demand, minimizing disruptions through robust relationships and global representation.[41] In technological innovations, Cintas has pursued digital transformation to enhance operational efficiency and service delivery. Deployment of SAP Business Technology Platform (BTP) centralizes data collection and analysis, integrating with SAP Extended Warehouse Management to provide real-time visibility across distribution operations, reducing turnaround times by two-thirds and achieving 97% efficiency in key processes.[42] Complementary tools include SAP Commerce Cloud for the "myCintas" customer portal, facilitating online ordering and tracking, alongside SAP SuccessFactors for human capital management.[42] Further advancements incorporate artificial intelligence, with a 2024 initiative leveraging Google Cloud's Vertex AI to build a generative AI-powered internal knowledge center. This system empowers over 46,000 employees by providing instant access to company information, documentation, and best practices, accelerating decision-making and reducing search times.[43] Investments in automation, data analytics, and upgraded CRM systems support predictive maintenance and customer service optimization, contributing to Cintas' recognition as one of America's Most Innovative Companies in 2025 by Fortune.[44][45] These efforts extend to supply chain visibility tools like LogistiVIEW, addressing prior gaps in tracking rental inventory across facilities.[46]Corporate Governance
Leadership and Executive Team
Todd M. Schneider has served as President and Chief Executive Officer of Cintas Corporation since June 1, 2021, following his election by the board to succeed Scott D. Farmer.[47] Prior to this, Schneider held the position of Executive Vice President, overseeing key operational divisions.[48] Scott D. Farmer, son of founder Richard T. Farmer, led as CEO from July 2003 until his retirement from that role on May 31, 2021, while retaining the position of Executive Chairman of the Board, which he assumed in September 2016.[49] The executive team reports to Schneider and includes James N. Rozakis as Executive Vice President and Chief Operating Officer, responsible for overseeing core business operations across Cintas' service segments.[50] Scott A. Garula serves as Executive Vice President and Chief Financial Officer, having succeeded J. Michael Hansen in that role effective April 2025; Garula previously led the Rental Division as President.[51] J. Michael Hansen, who retired as CFO after a tenure that included managing financial strategy during periods of revenue growth exceeding 10% annually in recent fiscal years, transitioned to Assistant to the CEO.[51] Cintas' Board of Directors, which provides strategic oversight to the executive team, comprises nine members as of October 2025, including Executive Chairman Scott D. Farmer, CEO Todd M. Schneider, Lead Director Joseph Scaminace, and independent directors such as Beverly K. Carmichael (appointed January 2024), Karen L. Carnahan, Melanie W. Barstad, Martin Mucci, Ronald W. Tysoe, and Robert E. Coletti.[52] The board emphasizes continuity from the company's founding family roots while incorporating external expertise in finance, operations, and governance.[53]Ownership Structure and Shareholder Policies
Cintas Corporation (NASDAQ: CTAS) maintains a public ownership structure with significant insider holdings, particularly by members of the founding Farmer family. As of recent filings, insiders collectively own approximately 14.9% of shares, led by Scott Farmer, son of founder Richard T. Farmer and former CEO, who holds 14.4% or about 57.7 million shares. Institutional investors control around 52% of the company, with the general public and other retail investors holding the remaining 33%. This distribution reflects broad market participation while affording insiders substantial influence through board representation and aligned long-term interests.[54][55]| Major Shareholder | Ownership Percentage | Shares Held (Approximate) |
|---|---|---|
| Scott Farmer | 14.4% | 57,662,934 |
| Vanguard Group | 9.55% | 38,384,133 |
| BlackRock | 7.0% | 28,148,878 |
| State Street | 3.76% | 15,118,190 |
Financial Performance
Revenue Growth and Segment Breakdown
Cintas Corporation reported total revenue of $10.34 billion for fiscal year 2025, ended May 31, 2025, reflecting a 7.7% increase from $9.60 billion in fiscal 2024.[16] This growth included 8.0% organic expansion from higher sales volumes across segments, augmented by 0.8% from acquisitions, but tempered by 0.9% due to fewer workdays and 0.2% from unfavorable foreign currency translation.[16] Historically, revenue has expanded consistently, rising from $8.82 billion in fiscal 2023 to the 2025 figure, with annual increases averaging 7-9% amid economic cycles including the COVID-19 recovery period.[16] [59] The company's operations are divided into three reportable segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other (encompassing Fire Protection Services and Uniform Direct Sales). Uniform Rental and Facility Services dominates, comprising 77.1% of fiscal 2025 revenue at $7.98 billion, up 6.8% from $7.47 billion in 2024; this segment includes recurring rental and maintenance of workwear, floor mats, mops, shop towels, and restroom consumables, alongside direct catalog sales.[16] First Aid and Safety Services generated $1.22 billion in fiscal 2025, or 11.8% of total revenue, a 14.2% rise from $1.07 billion the prior year, driven by sales of safety equipment, first aid kits, and workplace water services.[16] The All Other segment contributed $1.15 billion (11.1%), slightly up from $1.06 billion in 2024, with Fire Protection Services—covering inspections, maintenance, and installation of extinguishers and alarms—accounting for $817 million and Uniform Direct Sales adding $329 million.[16]| Segment | FY2025 Revenue ($ millions) | % of Total | FY2024 Revenue ($ millions) | FY2023 Revenue ($ millions) |
|---|---|---|---|---|
| Uniform Rental and Facility Services | 7,976 | 77.1 | 7,465 | 6,897 |
| First Aid and Safety Services | 1,218 | 11.8 | 1,067 | 951 |
| All Other | 1,146 | 11.1 | 1,064 | 967 |
| Total | 10,340 | 100 | 9,596 | 8,816 |