Emerald Textiles, which is backed by Pacific Avenue Capital Partners LLC and Highland Avenue Funds LLC, has acquired the assets of MediClean Linen and Laundry, a Los Angeles-based healthcare linen service provider. No financial terms were disclosed.
LOS ANGELES–(BUSINESS WIRE)–Emerald Textiles, a portfolio company of Los Angeles-based private investment firms Pacific Avenue Capital Partners, LLC (“Pacific Avenue”) and Highland Avenue Funds, LLC (“Highland”), today announces the acquisition of the assets of MediClean Linen and Laundry, a Los Angeles-based healthcare linen service provider.
The acquisition expands the footprint of the largest healthcare linen provider in California, increasing the total number of locations on the West Coast to seven.
Additionally, Emerald Textiles is excited to announce the commencement of a new “state-of-the-art” sixty-million pound facility in Livingston, California. The new Livingston facility will allow Emerald to serve its expanding customer base in Northern California along with its existing facility in Turlock. The new facility is scheduled to be complete by Q3 2019.
“We are excited to add the Los Angeles location to our network of facilities. The Los Angeles location provides Emerald Textiles with a strong foothold in Southern California, and further enhances Emerald’s existing network of linen processing facilities,” said Greg Anderson, CEO of Emerald Textiles. “Additionally, we are excited about our greenfield expansion into a new state-of-the-art facility in Livingston. This will further enhance Emerald’s ability to serve its customers. Emerald is committed to providing the best value-proposition for customers and looks forward to continuing to provide the highest level of quality and service.”
Under Pacific Avenue and Highland’s ownership, Emerald Textiles has grown through significant new customer wins, emphasis on building a world class team, a universal commitment to providing high levels of service to the customer, the acquisitions of two Southern California linen processing facilities, a de-novo build of a Northern California facility and material investments to upgrade existing facilities and equipment.
As part of the asset acquisition in Los Angeles, Emerald will immediately undertake a “re-tooling” of the facility to upgrade equipment. The capital plan includes more than $6.0 million of investment to ensure that the Los Angles facility upholds the same level of quality and efficiency found across the entire Emerald network.
Chris Sznewajs, Founder and Managing Partner at Pacific Avenue, stated, “This acquisition represents a continuation of our effort to build a world-class healthcare linen provider that can serve the needs of the entire state of California and West Coast markets. We are excited about our expansion into the Los Angles market and the already underway $6.0 million capital expansion.” Chris also added, “The de-novo facility will further enhance our position in Northern California and provides much needed capacity in that market. We are committed to investing in our people and facilities to ensure that we are best positioned to serve the needs of our customers in an environmentally responsible way.”
About Pacific Avenue Capital Partners
Pacific Avenue Capital Partners, founded by Chris Sznewajs, is a Los Angeles-based private investment firm. Pacific Avenue, in conjunction with its operating executives, Pacific partners with exceptional management teams to assist businesses in unlocking value and reaching their full potential. Pacific Avenue has a unique experience base in industrials, business services, healthcare services, and business products that allows the firm to differentiate itself from traditional private equity. Pacific Avenue’s current portfolio has more than $750 million in combined revenue. For more information, please visit www.pacificavenuecapital.com.
About Highland Avenue Capital Partners
Highland Avenue Capital Partners, founded by Chris Bryan, is a Los Angeles-based private investment firm with deep expertise in operations and growth enhancement in the middle market. Highland Avenue acquires controlling interests in businesses across multiple industries including specialty distribution, healthcare services and business services. For more information, please visit www.highlandavefunds.com.
About Emerald Textiles
Emerald Textiles is the leading industrial healthcare laundry and linen service business on the West Coast Emerald Textiles was created through the combination of Emerald Textiles and Encore Textile Services in July 2018. The company has locations in Los Angeles, San Diego, Turlock, Livingston, Riverside and La Selva Beach, CA as well as Reno, NV. For more information, please visit www.emeraldus.com.