- HLSG is a provider of linen management services to the healthcare and hospitality industries
- Chris Corcoran, Linen King’s CEO, will remain with the business and serve as regional chief operating officer of HLSG
- York Private Equity targets middle-market businesses
Healthcare Linen Services Group, a portfolio company of York Private Equity, has acquired Tulsa-based Linen King, a provider of healthcare laundry services in the South Central part of the U.S. No financial terms were disclosed.
As part of the transaction, Seaport Capital, which acquired Linen King in 2019, will receive shares in HLSG.
HLSG is a provider of linen management services to the healthcare and hospitality industries.
Linen King was founded in 1999. Chris Corcoran, Linen King’s CEO, will remain with the business and serve as regional chief operating officer of HLSG.
“The addition of Linen King bolsters HLSG’s leadership position in the healthcare linen industry, and we will continue to support the company’s organic and M&A strategies,” said Seth Pearson, managing director of York Private Equity in a statement.
The Linen King transaction represents HLSG’s fourth acquisition since York Private Equity made a strategic growth investment in March 2022.
York Private Equity targets middle-market businesses. Since inception in 2008, York Private Equity has completed over 50 investments with aggregate transaction value in excess of $4 billion.
Founded in 1997, Seaport Capital invests in communication infrastructure and services, business and information services, and media companies.