Surge Private Equity LLC has announced the closing of its investment in White Plains Linen, a commercial laundry services provider based in Peekskill, New York. The transaction, valued at more than $50 million, closed with debt financing provided by Capital Southwest Corporation. Jackson Walker LLP acted as lead counsel to Surge and Moss Adams/Baker Tilly provided financial diligence for the transaction. IMG Business Advisors acted as lead advisor for the deal.
“We are excited to partner with a company as established and respected as White Plains Linen,” says Lewis Sharp, partner at Surge. “Their reputation for quality and customer loyalty aligns well with our investment strategy, and we look forward to supporting their continued growth.”
“With eight years of active involvement in the New York City commercial services space, Surge has developed a network of skilled operators and will help White Plains provide better services to its customers,” says Bruce Botchman, the seller.
Surge is a Dallas, Texas-based private equity firm that was founded in 2017. White Plains Linen is Surge’s 15th platform investment and sixth acquisition within the broader New York City commercial services industry.
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