Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, today announced it has completed the sale of Healthcare Linen Services Group (HLSG), a leading provider of healthcare laundry services in the Midwest and Central United States, to York Capital Management’s private equity group (York Private Equity). Lincoln International and Stephens Inc. advised HLSG through the transaction. Terms of the transaction were not disclosed.
HLSG operates 11 state-of-the-art processing plants across four premier regional brands, partnering with healthcare administrators, clinicians and staff to deliver a wide variety of comfortable, bacteria free linens to thousands of hospitals, physician offices, surgery centers and nursing homes.
“I have valued my partnership with Thompson Street,” said Joe LaPorta, CEO of HLSG. “TSCP’s strategic support, operational expertise and investments in the HLSG organization and facilities allowed us to grow rapidly while maintaining our commitment to providing the highest level of quality and service to our customers.”
“We have truly appreciated our collaboration with the entire HLSG team,” said JC Wetzel, Director at TSCP. “The company has a well-earned, long-standing history as a premier provider of essential linen management services to the healthcare industry and is well positioned for continued growth and success.”