Healthcare Linen Services Group acquired by The Sterling Group

Overview

Deal Type Mergers & Acquisitions
Client & Transactional Partners Healthcare Linen Services Group
The Sterling Group
York Capital Management
Our Role Sell-Side Advisor

Summary

Cain Brothers, a division of KeyBanc Capital Markets, served as financial advisor to Healthcare Linen Services Group, a portfolio of York Capital Management, in its sale to The Sterling Group.

Cain Brothers was engaged based on our extensive knowledge of the healthcare and hospital end market and connectivity with buyers who would value HLSG’s infrastructure-oriented service model. This transaction continues Cain Brothers’ strong track record of representing healthcare distribution and logistics solutions. Terms were not disclosed.

Healthcare Linen Services Group is a leading provider of linen services to healthcare facilities, specializing in delivering high-quality linens and unparalleled customer service. With a commitment to excellence and innovation, HLSG serves healthcare organizations across the Midwest and Southcentral market, supporting their critical operations and patient care. 

York Private Equity, the private investing arm of York Capital Management, primarily targets control investments in middle-market businesses. Since inception in 2008, York Private Equity’s middle-market strategy has completed over 50 investments with aggregate transaction value in excess of $4 billion. York Private Equity has 13 dedicated team members. 

Founded in 1982, The Sterling Group is a private equity and private credit investment firm that targets investments in basic manufacturing, distribution, and industrial services companies. Typical enterprise values at initial formation range from $100 million to $1 billion. Sterling has sponsored the buyout of 77 platform companies and numerous add-on acquisitions for a total transaction value of over $27 billion. Sterling currently has approximately $9 billion of assets under management. 

KeyBanc Capital Markets Inc., Member FINRA/SIPC, and KeyBank National Association ("KeyBank N.A.") are separate, but affiliated companies. Securities products and services are offered by KeyBanc Capital Markets Inc. and its licensed securities representatives.

Securities products and services: Not FDIC Insured • No Bank Guarantee • May Lose Value

Banking products and services are offered by KeyBank N.A. All credit, loan, and leasing products are subject to collateral and/or credit approval terms, conditions, and availability and subject to change.

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