PureStar, the leading national hospitality laundry services provider in the United States, recently announced its acquisition of Emerald Textiles, a leading West Coast linen services provider to the healthcare industry. The combination of PureStar and Emerald creates one of the top commercial laundry services providers in the U.S. with a scaled, diversified platform serving both the hospitality and healthcare end markets.
Emerald Textiles is a leading healthcare laundry provider on the West Coast operating 12 facilities and 3 depots and is the 2nd largest nationwide. Emerald’s network of state-of-the-art facilities provide mission-critical linen services to hospitals and healthcare systems across the West Coast. Emerald has built a strong reputation for service quality, reliability, and compliance in highly regulated healthcare environments.
PureStar is the leading national commercial laundry provider for the hospitality market in the US with more than 100 years of combined service across 41 facilities in North America and operates 15 regional brands serving hospitality customers. With the acquisition of Emerald, PureStar significantly expands its platform, adding healthcare as a core vertical alongside hospitality and establishing a uniquely diversified commercial laundry provider with national scale. Together, PureStar and Emerald will operate one of the largest networks of commercial laundry facilities in the country, with enhanced geographic coverage, operational redundancy, and capacity to support long-term customer growth.
“Emerald has built an exceptional platform, and we are excited to bring their capabilities in health care laundry services to the PureStar platform,” said Brian Herington, CEO of PureStar. “This investment bolsters both PureStar’s and Emerald’s business by adding additional depth of experience, best practices, and enables continued investment in our people, facilities, and systems across our national network.”
“We are proud of the business we have built at Emerald and the trust we’ve earned from our healthcare customers,” said Andy Kratky, CEO of Emerald Textiles. “Joining PureStar provides us with the scale and resources to continue to grow our people, facilities, and service capabilities and, more importantly, our ability to continue providing high levels of service to our customers across a broader geography.”
“This transaction represents an important milestone in our strategy to build a scaled, diversified commercial services platform,” said Emily Pollack, Partner at Cornell Capital, which backs PureStar. “Emerald is a best-in-class operator with a strong management team and a culture that aligns well with PureStar’s. By bringing together leading hospitality and healthcare laundry platforms, we are creating a differentiated market leader with long-term growth opportunities.”
Jefferies LLC served as buy-side financial advisor and Davis Polk & Wardwell LLP served as legal counsel to PureStar and Cornell Capital. Terms of the transaction were not disclosed.
About PureStar
PureStar is the leading national hospitality laundry services provider in the United States, serving leading hotel brands and resorts across major markets. The company operates a nationwide network of full-service laundry facilities and delivers high-quality linen and textile services with a focus on reliability, efficiency, and customer service.
About Emerald Textiles™
Emerald Textiles is the largest commercial acute healthcare linen and laundry service provider, with service across the Western United States. Today, Emerald Textiles is the owner and operator of 12 facilities and three service depots with the unique ability to service over 500 million pounds of linen across a well invested footprint in CA, NV, AZ, and UT. For more information, please visit www.emeraldus.com.
About Cornell Capital
Cornell Capital is a U.S.-based private investment firm with approximately $5.3 billion of assets under management and offices in New York and Hong Kong. Leveraging decades of global investment experience, the firm takes a disciplined approach to investing across the industrials, business services, financial services, and consumer sectors, often in companies that can benefit from the firm’s Asia presence and cross-border expertise. Founded in 2013 by Senior Partner Henry Cornell, the former Vice Chairman of Goldman Sachs’ Merchant Banking Division, the firm is led by a highly seasoned team with significant shared investment experience.
Contact: Media Relations info@emeraldus.com