LOS ANGELES, CA —Los Angeles-based private investment firms Pacific Avenue Capital Partners, LLC (“Pacific Avenue”) and Highland Avenue Capital Partners, LLC (“Highland”), today announced the acquisition of Associated Laundry Management and Campus Laundry, two premier healthcare linen service providers on the West Coast. The combined companies have been re-branded as Encore Textile Services (“Encore”) and will occupy three facilities across Northern California and Nevada.
The acquisition positions Encore as one of the leading linen service providers in the Western United States. Encore is capable of processing more than fifty million pounds of healthcare linen in its facilities per year. Greg Anderson, the former majority shareholder in both Campus Laundry and Associated Laundry Management, will continue with the company as CEO of Encore Textile Services.
Chris Sznewajs, Co-Founder and Managing Partner at Pacific Avenue, stated, “This acquisition represents our effort to build a world-class healthcare linen provider that can serve the needs of the entire California and West Coast market. We appreciate Greg Anderson’s eye for growth and his expertise in the industry, and we are excited to continue our partnership with Greg at the helm of Encore. The acquisition of Associated Laundry Management and Campus Laundry serves as a prime example of our experience in founder transition situations.”
Under Pacific Avenue and Highland’s ownership, along with the experienced leadership of Greg Anderson, Encore Textile Services anticipates significant growth through new customer relationships, a strong commitment to providing a high levels of customer service, significant investments to upgrade its facilities and equipment, as well as potential future mergers and acquisitions.
“I am excited to partner with Chris Sznewajs and his team,” added Greg Anderson founder and owner/operator of both ALM and Campus Laundry, “The Pacific Avenue team was excellent to work with throughout the acquisition and I believe they will be a great partner for Encore in the next chapter of growth.”
About Pacific Avenue Capital Partners
Pacific Avenue Capital Partners, founded by Chris Sznewajs, is a Los Angeles-based private investment firm. Pacific Avenue, in conjunction with its operating executives, partners with exceptional management teams to assist businesses in unlocking value and reaching their full potential. Pacific Avenue has a unique experience base in industrials, business services, healthcare services, and business products that allows the firm to differentiate itself from traditional private equity. Pacific Avenue’s current portfolio has more than $750 million in combined revenue. For more information, please visit www.pacificavenuecapital.com.
About Highland Avenue Capital Partners
Highland Avenue Capital Partners, founded by Chris Bryan, is a Los Angeles-based private investment firm with deep expertise in operations and growth enhancement in the middle market. Highland Avenue acquires controlling interests in businesses across multiple industries including specialty distribution, healthcare services and business services. For more information, please visit www.highlandavefunds.com.