Financial Advisor
Angelica Corporation
M&A Advisory
Divestiture Of Company Assets
Transaction Details
- Between January 2020 and June 2022, Stephens advised Angelica (the “Company”) in its divestiture of 22 linen facilities spanning from California to Massachusetts
- Angelica completed 10 separate transactions involving both strategic and financial acquirers across the United States
- These transactions preserved continuity of employment for over 3,300 employees while simultaneously providing proceeds to Angelica’s sponsor
About the company
At the beginning of the divestiture process, Angelica Corporation was a leading provider of textile rental and linen management services to the U.S. healthcare market. The organization provided laundry and linen management services to hospitals, long term care facilities, and out-patient medical practices from 23 service centers across the nation. Prior to the divestitures, the Company managed more than 300 million pounds of healthcare linen for 1,000+ customers across 35 states.
Source: Company Materials.
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