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New Deal


Announced

Completed

Surge Private Equity invested in Hippodrome Services Group.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Consumer Services: Other

dry cleaning

Acquisition

Friendly

Completed

United States

Private Equity

laundry services

Private

Single Bidder

Synopsis

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Dallas-based Surge Private Equity invested in Hippodrome Services Group, which provides outsourced laundry and dry-cleaning services to 4- and 5-star hotels in Manhattan. Financial terms were not disclosed. Tom Beauchamp, Partner at Surge Private Equity, said, “Sam has built a remarkable business whose customer tenure speaks for itself. We see the value in this approach and believe we can improve the business he has built. Furthermore, this was a good fit for us given our ownership of Manhattan cleaning company Busy Bee Cleaning Services which we partnered with Harvest on as well.”

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