Pacific Avenue's Portfolio Company Emerald Textiles Expands West Coast Footprint Through the Acquisition of Assets From Angelica Corporation
LOS ANGELES, December 7, 2021 (Newswire.com) - Emerald Textiles ("Emerald"), a portfolio company of Los Angeles-based private investment firm Pacific Avenue Capital Partners, LLC ("Pacific Avenue"), announced that it has acquired the West Coast assets of Angelica Corporation ("Angelica"), a national healthcare linen services provider. The transaction includes nine facilities and allows Emerald to expand into the Phoenix and Las Vegas markets and strengthen its footprint in both Northern and Southern California. This major expansion establishes Emerald as the largest healthcare textiles provider in the Western United States, leading in exceptional quality of care and laundry services for the healthcare market.
"We are excited to build out our network of facilities with the acquisition of Angelica's West Coast assets," said Andy Kratky, Chief Executive Officer of Emerald. "The new locations are complementary to our existing locations in California, Nevada, and Utah, where we currently operate six facilities. This acquisition represents a continuation of our effort to build a world-class healthcare linen provider that serves the overall needs of the West Coast."
Emerald is the leading and largest provider of outsourced linen management services and specialty products to hospitals, clinics, and other healthcare facilities in the Western United States. The Company provides a full suite of products encompassing traditional linens and add-ons (e.g., mops, mats, scrubs, and isolation gowns) and is committed to providing the best value-proposition to customers through the highest quality and service. The Company has experienced impressive growth and a significant overall transformation through add-on acquisitions, greenfield expansion, large customer wins, and meaningful operational improvements. Including the newly acquired Angelica assets, Emerald serves nearly 2,000 customer sites. Guided by the mantra Clean Matters®, Emerald delivers high standards of cleanliness, industry compliance and customer satisfaction.
"Pacific Avenue, alongside the Emerald team, continues to transform the linen services landscape in the Western United States. The acquisition demonstrates our commitment to invest and grow the business to better serve the needs of our customers," said Chris Sznewajs, Founder and Managing Partner of Pacific Avenue. "We are excited to integrate the Angelica assets into the Emerald network and will continue investing in our facilities and state-of-the-art equipment to ensure we meet the needs of our customers."
Winston & Strawn LLP served as M&A legal counsel to Pacific Avenue, while Alston & Bird served as M&A legal counsel to the Angelica Corporation.
About Pacific Avenue Capital Partners
Pacific Avenue Capital Partners, founded by Chris Sznewajs in 2017, is a Los Angeles-based private investment firm focused on corporate divestitures and other complex situations in the middle market. Pacific Avenue has extensive M&A and operations experience allowing the firm to navigate complex transactions and unlock value through operational improvement, capital investment, and accelerated growth. The Pacific Avenue portfolio exceeds more than $1 billion in revenue. Pacific Avenue takes a collaborative approach in partnering with strong management teams to drive strategic change and assist businesses in reaching their full potential. For more information, please visit www.pacificavenuecapital.com.
About Emerald Textiles
Emerald Textiles is the leading and largest commercial healthcare linen and laundry service provider in the Western United States. Emerald Textiles was created through the combination of Emerald Textiles and Encore Textile Services in July 2018. Today, Emerald Textiles is the owner and operator of 15 plant facilities and 2 service depots with the unique ability to service over 560 million pounds of linen across a well invested footprint in CA, NV, AZ and UT. Facilities include San Diego, Riverside, Los Angeles, Colton, Pomona, Orange, San Fernando, Livingston, Livermore, Turlock, Sacramento, Fresno and Pittsburg, California, as well as Reno, NV, Las Vegas, NV, Phoenix, AZ and Saint George, UT. For more information about Emerald Textiles, please visit www.emeraldus.com.
Contact:
Chris Sznewajs
Pacific Avenue Capital Partners, LLC
csznewajs@pacificavenuecapital.com
Source: Emerald Textiles