Emerald Textiles Has Been Acquired

JULY 30, 2018

EMERALD TEXTILES HAS BEEN ACQUIRED BY ENCORE TEXTILE SERVICES, A PORTFOLIO COMPANY OF HIGHLAND AVENUE CAPITAL PARTNERS

Emerald’s acquisition follows the 2017 acquisition of Encore Textile Services by Highland Avenue Capital Partners. The addition of Emerald creates one of the leading commercial healthcare linen service providers in the Western U.S.

San Diego, CA – July 30, 2018 – Encore Textile Services (“Encore”), a portfolio company of Los Angeles-based private investment firm Highland Avenue Capital Partners, LLC (“Highland Avenue”), announced today the completion of the acquisition of Emerald Textiles, a San Diego Based healthcare linen service provider. The acquisition brings together the two largest independent healthcare laundry providers in California, with the combined entity having a total of five locations on the West Coast. The combined business will have an unparalleled ability to better serve all the needs of their large regional customers in both Northern and Southern California.

We are excited to welcome the Emerald team to the Encore family. It is our belief Emerald’s team of experienced and respected professionals will complement the Encore team as we continue to scale the organization through organic growth, acquisitions and greenfield opportunities. Encore and Emerald are committed to providing the best value-proposition for current and future customers and look forward to continuing to serve our combined customer base with continued high-level quality and service” said Greg Anderson, CEO of the combined Encore and Emerald.

This merger will be seamless to Emerald’s Customers and Vendors. You will continue to receive the same outstanding service and quality. Jaye Park will remain as President; Dan Leavy will assume the position of General Manager – Southern California and Stella Rancour will become the new Director of Customer Service.

Under Highland Avenue’s ownership, Encore has grown through significant new customer wins, material investments in upgrading facilities and a universal commitment to servicing the customer.

Chris Sznewajs Co-Founder and Managing Partner at Highland Avenue, added “Highland’s original investment thesis centered around building scale while enhancing the Company’s ability to service its consolidating customer base. The addition of Emerald to the Encore platform is a realization of that thesis and allows us to serve the entire California market. We are excited about the two entities coming together and wanted to thank the entire Emerald team for building a great organization focused on their customers.