The Pritzker Organization (TPO) has made a growth investment in Crown Health Care Laundry Services (Crown), a provider of outsourced linen management services and specialty products to hospitals, clinics and other healthcare facilities.
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 have not been 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,” says 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,” says 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, adds: “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.”
Piper Sandler acted as exclusive financial advisor to Crown and Quilvest. Dechert LLP acted as legal advisor. Latham and Watkins advised The Pritzker Organization.
