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Blue Wolf Capital Donates Former Industrial Laundry Site to Conservancy Project

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(Photo: ©iStockphoto.com/sukmaraga)

Bruce Beggs |

NEW YORK — A subsidiary of former Blue Wolf Capital Fund portfolio company Healthcare Laundry Systems (HLS) has donated an industrial property in Rockford, Ill., to The Nature Conservancy, a conservation organization.
The property previously housed an industrial laundry facility and is valued at an estimated $500,000. It will be sold by The Nature Conservancy and, at the direction of Blue Wolf, the proceeds given to the Conservancy’s “Heart of the Adirondacks” campaign.
The campaign is a forest-and-freshwater conservation effort that balances ecology and human economy in New York’s Adirondacks. The Conservancy is working to link 860,000 acres there, protecting miles of rivers and streams, as well as more than 300 lakes and ponds and 100 mountains.
Blue Wolf announced last month that it had sold its interest in HLS to Crothall Services Group. HLS was created in November 2008 through the acquisition of assets of Wheeling, Ill.-based Hospital Laundry Systems and Rockford-based Northern Illinois Hospital Services.
“We are delighted to further our relationship with The Nature Conservancy and support their important work through this donation,” says Adam Blumenthal, managing partner of Blue Wolf. “We take very seriously our commitment to the U.N. Principles of Responsible Investing, which include factoring social, environmental and sustainability considerations into our investment activities.”
“The Conservancy thanks Blue Wolf for their creative gift, the first donation of industrial property in six years,” says Bill Ulfelder, New York state director of The Nature Conservancy. “We hope that this gift of industrial property will help to regenerate the trend of real-estate gifts.”
 

About the author

Bruce Beggs

American Trade Magazines LLC

Editorial Director, American Trade Magazines LLC

Bruce Beggs is editorial director of American Trade Magazines LLC, including American Coin-Op, American Drycleaner and American Laundry News. He was the editor of American Laundry News from November 1999 to May 2011. Beggs has worked as a newspaper reporter/editor and magazine editor since graduating from Kansas State University in 1986 with a bachelor’s degree in journalism and mass communications. He and his wife, Sandy, have two children.

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