PRESS RELEASE - December 2018
LOS ANGELES–(BUSINESS WIRE)–Emerald Textiles, a portfolio company of Los Angeles-based private investment firms Pacific Avenue Capital Partners, LLC (“Pacific Avenue”) and Highland Avenue Funds, LLC (“Highland”), today announces the acquisition of the assets of MediClean Linen and Laundry, a Los Angeles-based healthcare linen service provider.
The acquisition expands the footprint of the largest healthcare linen provider in California, increasing the total number of locations on the West Coast to seven.
Additionally, Emerald Textiles is excited to announce the commencement of a new “state-of-the-art” sixty-million pound facility in Livingston, California. The new Livingston facility will allow Emerald to serve its expanding customer base in Northern California along with its existing facility in Turlock. The new facility is scheduled to be complete by Q3 2019.
PRESS RELEASE - July 2018
San Diego, CA – (BUSINESS WIRE)– Encore Textile services, a portfolio company of Los Angeles based private investment firm Highland Avenue Capital Partners, LLC (“Highland Avenue”),announced today that they completed the acquisition of Emerald Textiles. The acquisition brings together the two largest independent premier players in California with a total five facilities on the West Coast. The combined entities will have the ability to better serve their large regional customers in both Northern and Southern California as a result of this acquisition.
Encore under Highland Avenue’s ownership has grown through significant new customer wins, material investments in upgrading facilities and a universal commitment to servicing the customer.
Northleaf Capital Partners and AIG provided the debt financing for this transaction. Jones Day acted as buyers counsel. Cooley LLP provided legal counsel to the Sellers. Latham & Watkins LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP provided debt counsel. Piper Jaffray & Co. served as the Buy-side advisors as well as advisor for the debt capital raise. Grant Thornton LLP and Ernst & Young LLP provided accounting advisory services.
PRESS RELEASE - June 2018
CHICAGO–(BUSINESS WIRE)–Monroe Capital LLC today announced it acted as sole capital provider on the funding of a $49.3 million credit facility and equity co-investment to support the acquisition of a specialty chemical platform (“Company”) by the private equity sponsor, Highland Avenue Capital Partners, LLC.
Founded in 2004, the Company manufactures and distributes specialty chemicals for a wide range of end markets. The Company offers various industrial, agriculture and other specialty chemicals.
PRESS RELEASE - May 2017
LOS ANGELES– Highland Avenue Capital Partners announces the acquisition of Campus Laundry East & West, a healthcare linen services & management Platform that service large regional healthcare providers in California.
PRESS RELEASE - May 2017
LOS ANGELES– Highland Avenue Capital Partners announces the acquisition of Associated Linen Management, a hospitality linen services & management Platform that service large regional healthcare providers in Nevada.