NEW YORK, November 24, 2009 – Blue Wolf Capital Management LLC, the New York-based private equity firm, announced today that, one year after completing the transaction in which it created Healthcare Laundry Systems, LLC (“HLS”), it has returned approximately 40% of its investors’ investment in the company.
Blue Wolf created Healthcare Laundry Systems, LLC to acquire the assets of the former Hospital
Laundry Services and Northern Illinois Hospital Services in November 2008. HLS operates the largest
healthcare laundry facility in North America.
Josh Wolf-Powers, founding partner of Blue Wolf, said, “We created the thriving company that HLS has come to be in partnership with management, labor and our customers. HLS’s continued success reflects our strategy of creating value for investors by resolving complexity. The company’s commitment to excellence has allowed it to add accounts, grow revenues and keep costs in line for its healthcare customers.”
Haran Narulla, Blue Wolf Vice President, added, “The HLS management team has exceeded our expectations, growing revenues and improving profitability in the most difficult economic climate in memory.”
Mike Musuraca, Blue Wolf Managing Director, said, “Through this first year, we’ve created what we believe is the most efficient company in our industry, as a result of the partnership between our first-rate management team, our employees, and the unions that represent them.”
Chuck Rossmiller, CEO of HLS, said, “We are proud of our ability to continue to grow by improving our value proposition to customers, while remaining sensitive to their ongoing need to control costs.”
Wolf-Powers continued, “Blue Wolf continues to deploy capital – and to return capital to our investors – at a time when many are sitting on the sidelines.”
About Blue Wolf
Blue Wolf Capital Management LLC is a private equity firm that invests in companies in which effective management of relationships with complex constituencies, such as government and labor, can change organizations and create value. For additional information, please visit www.blue-wolf.com.
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