PureStar Acquires Southern Linen Services
PureStar has announced its recent acquisition of Southern Linen Services in Mississippi.
Terms of the transaction were not disclosed.
Southern Linen Services, located in Long Beach, Mississippi, was established as a family owned-operated business in 2000, providing laundry services to hospitality clients along the Gulf Coast. The 53,000 square foot, 2-tunnel facility currently serves the Gulfport market for large hotel resorts and casinos.
As the nation’s largest hospitality laundry provider, PureStar now operates 35 full-service plants in major markets across the U.S., as well as Cancun, Mexico and Nassau, Bahamas. With the acquisition of Southern Linen Services, PureStar will enter a new geographic market, expanding service into the Gulf Coast region.
“PureStar is continuing to execute on our acquisition strategy of expanding into new geographies, leveraging our customer relationships and implementing our efficient business model,” says CEO Brian Herington. “We’re looking forward to working with the Southern Linen team to continue to provide an exceptional customer experience, enhanced productivity and invest in expanding capacity.”
PureStar is backed by private equity firm Cornell Capital. Cornell Capital is a U.S.-based private investment firm with approximately $5.3 billion of AUM and offices in New York and Hong Kong. Leveraging decades of global investment experience, the firm takes a disciplined approach to investing across the industrials, business services, financial services, and consumer sectors, often in companies that can benefit from the firm’s Asia presence and cross-border expertise. Founded in 2013 by Senior Partner Henry Cornell, the former Vice Chairman of Goldman Sachs’ Merchant Banking Division, the firm is led by a highly seasoned team with significant shared investment experience.
Stangle Co. Advisors acted as the exclusive M&A advisor to Southern Linen Services, Inc.