Hospitals don't have to move heaven and earth to get clean sheets -- Angelica will do it for them. The firm provides laundry services and rents linens to more than 4,200 health care providers, including dentists, medical clinics, hospitals, and nursing homes. It rents and cleans scrubs, bed sheets, towels, gowns, and surgical linens. Angelica also provides mops, mats, sterile surgical packs, and on-site linen room management. The firm operates about 30 laundry service centers across the US. Angelica traces its roots back to 1878, when it was established as a uniform manufacturer. It is owned by private equity firm Trilantic Capital Partners.
New York-based Trilantic was created in 2009, in cooperation with Reinet Investments and managers of Lehman Brothers Merchant Banking Partners, which had acquired Angelica a year earlier. Following the formation, the private equity firm purchased the assets of the bankrupt Lehman Brothers' investment unit, including Angelica.
Lehman Brothers Merchant Banking Partners had acquired Angelica for $22 per share in cash. Shareholders approved the takeover in July 2008, and the deal closed the following month. Lehman Brothers Merchant Banking Partners was drawn to Angelica for its growth potential, as it has a well-known name and strong reputation in the industry.
As a major laundry services provider, the company is following an industry movement toward more sustainable practices. Angelica plans to expand its use of environmentally friendly detergents, especially those that are free of phosphates and nonoxynols. It also looks to invest in more energy-efficient equipment and water recycling systems.
In early 2011, the company named M&A specialist Stuart Murray CEO. Shortly after Murray took over, Angelica reorganized itself into five regional business units. – less
3 salaries reported
$49,611 per year