Announced
Completed
Financials
Tags
Consumer Services: Other
dry cleaning
Acquisition
Friendly
Completed
United States
Private Equity
laundry services
Private
Single Bidder
Synopsis
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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