ImageFIRST Acquires Majority Stake in Faultless Linen.
M2 EQUITYBITES-May 23, 2019-ImageFIRST Acquires Majority Stake in Faultless Linen
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23 May 2019 - Pennsylvania, US-based laundry services provider to the healthcare industry ImageFIRST has acquired a majority stake in Missouri, US-based Faultless Healthcare Linen with the support of private equity firm Calera Capital, the company said.
Terms of the transaction were not disclosed.
ImageFIRST continues to expand its national footprint and, in partnership with Faultless, operates directly in Kansas, Missouri, and Colorado.
With the completion of the transaction, ImageFIRST's 41 locations nationwide serve over 14,000 medical facilities every week.
The investment in Faultless, together with the initial platform investment in ImageFIRST, reinforces Calera's strength and track record of successfully partnering with strong, founder or family-owned businesses and leading management teams.
Faultless Healthcare Linen is a healthcare focussed laundry service provider with certified best practices to ensure medical laundry is safe and clean, while managing costs.
Faultless is the only company in Missouri, Kansas and Colorado with all of these critical certifications Hygienically Clean, HLAC, Infection Control University, as well as Clean Green. In Colorado, Faultless also processes food and beverage linens.
ImageFIRST is a national linen rental and laundry service specialising in the healthcare market. ImageFIRST's 41 locations nationwide serve over 14,000 medical facilities every week providing linen, patient gowns, scrubs and more while managing their clients' linen inventory for cost management.
Calera Capital is a private investment firm which has invested over USD 3.5bn. The company focusses primarily in two industry sectors: Business Services and Specialty Industrials.
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|Publication:||M2 EquityBites (EQB)|
|Date:||May 23, 2019|
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