Houlihan Lokey Advises Compass Group

Houlihan Lokey is pleased to announce that Crothall Laundry Services, a subsidiary of Compass Group plc (LSE:CPG), has been acquired by H.I.G. Capital. The transaction closed on December 31, 2020.

Crothall Laundry Services is a leading provider of outsourced laundry and linen management services to the healthcare and hospitality sectors. Founded in 1991, the company provides mission-critical laundry and linen management services nationally through 29 operating locations that process 600 million pounds of linens annually. Crothall utilizes the highest quality and sustainability standards and processes that adhere to HLAC, OSHA, and JCAHO guidelines.

H.I.G. Capital is a leading global private equity and alternative assets investment firm with more than $42 billion of equity capital under management. Based in Miami, with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused, value-added approach.

Houlihan Lokey served as the exclusive financial advisor to Crothall and Compass and assisted in marketing, structuring, and negotiating the transaction on their behalf. This deal exemplifies the continued success of Houlihan Lokey’s dedicated coverage of the facility services market, including its deep expertise in the healthcare laundry sector, as well as the firm’s strong track record advising corporate clients through divestiture/carve-out transactions.