LOVELAND, Ohio — Washing Systems LLC, a provider of chemicals and technical services to the commercial laundry processing industry, has completed a recapitalization with Gryphon Investors, a San Francisco-based private equity firm, the company reports.
Terms of the transaction were not disclosed.
According to the company, the partnership with Gryphon will provide Washing Systems with increased resources to fuel growth within the commercial laundry industry.
The Washing Systems executive management team, including CEO Bobby Fisher and President Terry Shoreman, retain a significant ownership position in the company and will continue to lead the business, managing all day-to-day operations.
“We are entering an exciting stage of the company’s evolution,” Fisher says, “looking to create more opportunities for our people and, most importantly, to serve our existing customers even better.
“We are very excited to partner with Gryphon to pursue these initiatives, and we look forward to delivering even more innovative technologies in our products and services for the benefit of our customers.”
Have a question or comment? E-mail our editor Matt Poe at [email protected].