PE-backed PureStar acquires commercial laundry services firm Apex Linen

PureStar is a provider of laundry services and linen management to the hospitality industry.

  • Moelis & Company was financial advisor to Apex Linen on the deal
  • Cornell Capital LLC has about $6 billion of assets under management
  • Cornell was founded in 2013 by Senior Partner Henry Cornell, the former vice chairman of Goldman Sachs’ merchant banking division

PureStar, which is backed by Cornell Capital, has acquired Nevada-based Apex Linen, a provider of commercial laundry and dry cleaning services to the hospitality and restaurant industries in the greater Las Vegas area. No financial terms were disclosed.

PureStar is a provider of laundry services and linen management to the hospitality industry.

“Las Vegas is one of the largest and fastest-growing hospitality markets in the U.S. and is a core strategic focus for PureStar,” said Brian Herington, CEO of PureStar in a statement. “Acquiring the Apex assets provides PureStar with additional scale that will enable us to increase productivity and service levels to capitalize on the demand in the hospitality, food and beverage, and uniform markets. We look forward to working with the Apex team to further increase plant capacity and operating efficiencies.”

Moelis & Company was financial advisor to Apex Linen.

Cornell Capital LLC has about $6 billion of assets under management. Cornell was founded in 2013 by Senior Partner Henry Cornell, the former vice chairman of Goldman Sachs’ merchant banking division.