NEW YORK — Blue Wolf Capital Partners LLC, the New York-based private equity firm, won the 2011 Small Market Deal of the Year award from Buyouts Magazinefor its investment in former portfolio company Healthcare Laundry Systems.
An affiliate of Blue Wolf created HLS in November 2008 through the acquisition of the assets of Wheeling, Ill.-based Hospital Laundry Services. Today, HLS is the largest dedicated provider of healthcare laundry services in North America. Blue Wolf sold its interest in HLS to Crothall Services Group in March 2011.
The HLS investment was selected because it represents the compelling transformation of a captive subsidiary to a vibrant and growing independent company.
During the course of Blue Wolf’s ownership, the company more than doubled profitability, increased jobs by 50%, completed the acquisition of Rockford, Ill.-based Northern Illinois Hospital Services, and invested in technology and processes that reduced energy and water usage, as well as improved safety standards.
“Blue Wolf specializes in saving and improving small and mid-sized ‘old economy’ companies,” says Adam Blumenthal, managing partner. “We believe we can offer responsible investment solutions that build strong, profitable businesses while also being mindful of workers’ needs, corporate governance issues and environmental concerns. We are pleased to be recognized for our efforts to rebuild HLS.”