MIAMI — H.I.G. Capital, a global alternative investment firm with $42 billion of equity capital under management, reports that one of its affiliates has completed the acquisition of Crothall Laundry Services.
Terms of the deal were not disclosed.
Formerly a subsidiary of Compass Group plc, Crothall is a provider of outsourced laundry and linen management services to the healthcare and hospitality sectors.
Crothall, founded in 1991, provides mission-critical laundry and linen management services nationally with 29 operations that process 600 million pounds of linens annually. The company utilizes the highest quality and sustainability standards and processes that adhere to HLAC, OSHA and JCAHO guidelines.
H.I.G. is partnering with the current management team to support the company’s continued expansion.
“This is an exciting event,” says Michael Barner, Crothall’s chief executive officer. “Over the last three decades, we have made substantial investments in our plants, infrastructure and capabilities while supporting the growth of leading healthcare organizations. Now, more than ever, our customers are increasingly relying on us to support their linen management and infection control needs.
“We are excited to work with H.I.G. Capital as we push ahead with our expansion plans.”
“Crothall is the clear leader in the laundry and linen management sector, serving healthcare institutions through the combination of best-in-class operations, scalable data-driven processes and a stringent focus on quality,” says Richard Stokes, managing director at H.I.G. “These solutions have increasingly positioned Crothall as a critical partner to healthcare providers as they seek to improve the patient experience.
“We look forward to working with the team to build upon their success and support continued growth initiatives.”