H.I.G. Capital Completes Acquisition of Crothall Laundry Services
MIAMI – December 31, 2020 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $42 billion of equity capital under management, is pleased to announce that one of its affiliates has completed the acquisition of Crothall Laundry Services (“Crothall” or the “Company”). Formerly a subsidiary of Compass Group plc (LSE:CPG), Crothall is a leading 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. 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,” said Michael Barner, Crothall’s Chief Executive Officer. Barner added, “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. These solutions have increasingly positioned Crothall as a critical partner to healthcare providers as they seek to improve the patient experience,” said Richard Stokes, Managing Director at H.I.G. “We look forward to working with the team to build upon their success and support continued growth initiatives.”
Crothall Laundry Services is a leading provider of outsourced laundry and linen management services to the healthcare and hospitality markets. Founded in 1991, Crothall operates a national network with 29 operating locations that service more than 1,000 customer sites and manages a workforce with more than 2,000 employees.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $42 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.