CVC agrees to invest in healthcare textile management services firm Unitex
- The deal marks the first outside equity investment in the company’s more than 100-year history
- The Potack family will retain a significant stake and continue to lead the business
- Founded in 1922, the company operates a highly automated network of processing facilities
CVC, through its long-duration investment platform Strategic Opportunities, has agreed to invest in Unitex, a healthcare textile management provider, for undisclosed terms.
The Potack family will retain a significant stake and continue to lead the business.
The deal marks the first outside equity investment in Unitex’s more than 100-year history.
Founded in 1922 and headquartered in Elmsford, New York, Unitex provides linen rental, laundry processing and textile management services to hospitals, outpatient facilities and nursing homes through a highly automated network of processing facilities. The company serves more than 5,000 healthcare facilities across the Northeast US and has built a market-leading position through its scale, route density, operational excellence and customer relationships, according to the company.
“We have followed the sector for several years and developed tremendous respect for Unitex’s operational excellence, customer relationships and culture,” said Matt Turner, partner at CVC.
Stephens and Citizens Financial Group served as financial advisors and White & Case served as legal counsel to CVC. JP Morgan Securities served as exclusive financial advisor and McDermott Will & Schulte served as legal counsel to Unitex.
Editor’s note: This news brief was produced with the assistance of artificial intelligence.
