NEW YORK, March 9, 2021 /PRNewswire/ -- Crown Health Care Laundry Services ("Crown" or the "Company"), a leading provider of outsourced linen management services and specialty products to hospitals, clinics and other healthcare facilities, today announced that The Pritzker Organization ("TPO") has made a growth investment in the Company to help fuel its next phase of growth. As part of TPO's investment, affiliates of Quilvest Capital Partners ("Quilvest"), the Company's existing financial partner, sold its majority interests. Blenheim LP ("Blenheim"), an existing minority investor, will remain a significant shareholder along with Crown management. Financial terms of the transaction were not disclosed.
Crown is a clear leader in the healthcare linen services market. By leveraging its differentiated and sustainable strategy focused on superior quality and service, Crown delivers unparalleled service levels to its broad base of blue-chip healthcare customers across the Southeast via its well-invested network of seven facilities.
"Crown has established itself as the leading provider of healthcare linen management solutions across the Southeast region and we are pleased to partner with them to drive continued growth," said Joseph Gleberman, Managing Director of TPO. "The Company's success reflects its superior value proposition, relentless focus on customer service, broad footprint with best-in-class facilities and long-tenured, entrenched relationships with marquee healthcare providers. We are excited to work with Don and the Crown team as we build on their success well into the future."
"As we welcome the TPO team as our partners, I want to thank the Quilvest team for their support as we expanded our business to seven facilities, completed several strategic acquisitions and continued our track record of investing in facilities to maintain industry-leading customer service," stated Don Haferkamp, CEO of Crown. "The TPO team has a clear understanding of our customer-first service model and our strategy to further expand our customer base, geographic presence and facility network and we are excited to work together to drive growth over the long term."
Jay Takefman, Partner and Co-Head of Lead Private Equity at Quilvest, added: "We are incredibly proud of our collaborative relationship with Don and the Crown management team. Over the course of our seven-year investment, Crown has significantly expanded its footprint, allowing the Company to deliver its best-in-class service to an ever-growing roster of leading healthcare customers."
Larry Neubauer, Senior Partner at Quilvest and manager of Blenheim noted further; “TPO has an impressive track-record of investing in and supporting growth companies for the long term and we believe is a great fit to help lead Crown’s next phase of growth. I am enthusiastic about Blenheim remaining a significant investor in Crown.”
Piper Sandler acted as exclusive financial advisor to Crown and Quilvest. Dechert LLP acted as legal advisor. Latham and Watkins advised The Pritzker Organization.
ABOUT CROWN HEALTH CARE LAUNDRY SERVICES
Headquartered in Pensacola, FL, Crown is the leading provider of healthcare linen management solutions and products across the Southeast. Crown provides laundering, packaging, delivery and additional value-added services to healthcare facilities. For more information on Crown, please visit www.crownlaundry.com
ABOUT QUILVEST CAPITAL PARTNERS
Quilvest Capital Partners is the multi-strategy alternatives division of the Quilvest Group. The Quilvest Group was formed in 1917 to manage the holdings of the Bemberg family, the founders of Quilmes Brewery, Argentina's largest brewery. The Quilvest Group has evolved alongside seven generations of the Bemberg family into a global, multi-family office with $38 billion in assets under management and over a century of experience in wealth management and alternative investing. With approximately $6 billion in assets under management and a global platform spanning North America, Europe and Asia, Quilvest Capital Partners focuses on partnering with exceptional entrepreneurs to accelerate growth of middle-market companies. Quilvest Capital Partners' Lead Private Equity Group takes majority or influential minority positions in businesses with a strong track record of profitable growth, leveraging the pioneering heritage and innovative spirit that has helped shape the Quilvest Group's multiple investment platforms over the last century. For more information, please visit www.quilvestcapitalpartners.com
About The Pritzker Organization, L.L.C.
The Pritzker Organization is the merchant bank for the business interests of the Pritzker family. TPO is focused on partnering with exceptional leaders to create value across a wide range of industries. TPO looks for opportunities where it can create value for the family's interests and those of its partners and colleagues over a significant time horizon. For more than 60 years, TPO has overseen and guided the development of dozens of portfolio companies across a wide variety of industries, including manufacturing, logistics, life sciences, hospitality, healthcare and services. Notable businesses include Hyatt Hotels, Triton Container and the Marmon Group. Recent control investments include TMS International, Lithko Contracting, KBP Investments, Mammoth Holdings and STV Inc. In addition to its core strategy of building businesses over the long term, TPO is also active in special situations, advising the family's interests in the deployment of capital across a wide spectrum of industries and across every tier of the balance sheet, from senior debt to equity. Additional information can be found at www.pritzkerorg.com.
SOURCE Quilvest Capital Partners