TORONTO, Ontario, Canada — Clairvest Group Inc., Clairvest Equity Partners IV Limited Partnership and Claire Equity Partners IV-A Limited Partnership have entered the linen rental industry via a combined $8.6 million investment in Linen King, an Oklahoma-based textile services company that provides commercial laundry services to the healthcare and hospitality industries.
“Our team has followed the textile rental industry for a number of years,” says David Sturdee, Clairvest managing director. “We are excited by the opportunity to partner with a strong and ambitious management team led by the founders of the company, who will continue to own a meaningful percent of the company.
“Linen King has an outstanding reputation for reliability and customer service, and we look forward to working with management to help execute their growth initiatives.
“I’m thrilled to have Clairvest as our partner to help fuel the next stage of our expansion,” says Leonard McCullough, Linen King’s CEO. “We’ve spent the last 12 years rapidly becoming one of the largest textile rental companies in the central U.S. and are enthusiastic about working with Clairvest to expand our footprint throughout the country.”
Linen King operates plants that serve the Oklahoma City, northwest Arkansas, mid-Missouri and central Arkansas regions. The company was formed in 1999.