PHILADELPHIA — ImageFIRST, a provider of laundry services for the healthcare industry, reports it has acquired two of its franchisees: the St. Louis and Seattle/Portland locations.
Terms of the transactions were not disclosed.
These acquisitions were supported by Calera Capital, a middle-market private equity firm that acquired a majority stake in ImageFIRST in October 2018.
“The ImageFIRST team and I are thrilled to welcome these franchises’ teams as they become an official part of our corporate organization,” says Jeff Berstein, CEO of ImageFIRST. “We look forward to continue providing great service to medical facilities in St. Louis and the Portland-Seattle markets.”
The Seattle/Portland franchise expands ImageFIRST’s corporate presence for the first time into the Pacific Northwest, according to the company. The St. Louis franchise adds to the Faultless Linen operation acquired by ImageFIRST in May and further expands the service portfolio in Missouri.
ImageFIRST says it continues to expand its national footprint through a combination of organic and acquisition-driven growth, and the acquisition of these two additional franchisees represents the third and fourth add-on acquisitions that ImageFIRST has completed in 2019.
ImageFIRST says it has 41 locations nationwide that serve more than 14,000 medical facilities every week.
ImageFIRST Acquires Majority Stake in Faultless Linen, May 21, 2019