York’s Laundry Services Platform Closes Big Add-On

York’s Laundry Services Platform Closes Big Add-On

The acquisition of Reino Linen Service is York's second for its HLSG platform which it acquired in March 2022 from Thompson Street

Healthcare Linen Services Group is a provider of laundry services and linen products to the healthcare and hospitality industries.

SOURCE: Getty Images

Healthcare Linen Services Group, a portfolio company of York Private Equity, has acquired Reino Linen Service.

York acquired Healthcare Linen Services Group (HLSG), a provider of laundry services and linen products to the healthcare and hospitality industries, in March 2022 from Thompson Street Capital Partners.

HLSG, led by CEO Joe LaPorta, is headquartered 40 miles west of Chicago in St. Charles, Illinois, and operates 11 facilities in Illinois (3), Wisconsin (3), Kentucky (2), Indiana, Minnesota, and New York.

Reino Linen Service is a provider of laundry services to hospitals and healthcare facilities with 400 employees and facilities in Kalamazoo and Brownstone, Michigan (near Detroit), and in Gibsonburg, Ohio (near Toledo). Reino was founded in 1943 by Leonard and Judy Reino as a dry cleaner and shirt laundry. In 2020, the founders sold the business to President Daniel Darr.

[Source: Healthcare Linen Services Group]
The buy of Reino expands HLSG’s operations into the Ohio and Michigan markets and adds additional capacity to its existing Midwest footprint. HLSG now operates 14 processing plants across five regional brands – Logan’s Linens, Logan’s Uniform Rental, Superior Health Linens, Textile Care Services, and now Reino Linen Service. In total, HLSG processes more than 250 million pounds of healthcare linen on an annual basis for over 500 customers in 14 states.

“We are proud to welcome the Reino team to the HLSG family as we continue to execute on our M&A growth strategy, and we are excited about expanding and investing in the combined platform,” said Seth Pearson, a managing director of York Private Equity.

The acquisition of Reino is HLSG’s second since being acquired by York and follows the May 2022 buy of Kentucky-based Elizabethtown Laundry & Dry Cleaning.

York Private Equity is the middle-market private investing group of York Capital Management. The group invests across numerous sectors, making them effectively industry agnostic. Since its launch in 2008, the New York City-based group has completed more than 50 investments with an aggregate transaction value greater than $4 billion.

York’s investment in HLSG was made through its $800 million middle-market private equity fund, York Special Opportunities Fund III LP, which closed in April 2020.

© 2022 Private Equity Professional | October 5, 2022

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