Antares and Varagon served as joint lead arrangers for a USD138 million senior secured credit facility to support the acquisition of ImageFirst Healthcare Laundry Specialists (ImageFirst) by Calera Capital Partners.
Founded in 1967 and headquartered in King of Prussia, PA, ImageFirst is a leading linen rental and laundry service company specialising in the healthcare market throughout the US.
“The Antares team committed to a large hold position and delivered the financing we required with speed and certainty,” says Ethan Thurow, a managing director with Calera Capital. “We look forward to continuing to work together to support ImageFirst’s growth both organically and through acquisition.”
“ImageFirst’s strong customer-focused culture has helped to differentiate the company and establish it as an industry leader,” says Ryan Simpson, vice president with Antares. “The strength of ImageFirst’s management team and the strategic and operational expertise of Calera will be a powerful combination that will help to propel ImageFirst forward as they continue to execute their growth plans.”