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Announced

Completed

Cornell Capital-backed PureStar completed the acquisition of certain Las Vegas assets of Apex Linen.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

Single Bidder

Majority

Textile Rental / Washroom Services

Acquisition

laundry equipments

Domestic

Friendly

United States

Completed

Private Equity

Synopsis

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Cornell Capital-backed PureStar, a provider of laundry services and linen management to the hospitality industry, completed the acquisition of certain Las Vegas assets of Apex Linen, a provider of high-volume, commercial laundry and dry cleaning services to the hospitality and restaurant industries,. Financial terms were not disclosed. "Las Vegas is one of the largest and fastest-growing hospitality markets in the U.S. and is a core strategic focus for PureStar. Acquiring the Apex assets provides PureStar with additional scale that will enable us to increase productivity and service levels to capitalize on the demand in the hospitality, food and beverage, and uniform markets. We look forward to working with the Apex team to further increase plant capacity and operating efficiencies," Brian Herington, PureStar CEO.

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