"This transaction culminates three years of hard work by the Kelly Capital team to unlock National Linen's significant shareholder value," said Joe Altman, Senior Vice President, Kelly Capital. "National Linen is the Southeast's largest linen rental service company with the most advanced linen management technology. We believe the transaction will provide immense strategic value and material market share for Alsco. We're focused on ensuring the transition to new ownership is seamless to our customers and employees."
The acquired NLUS branches are located in Florence, AL, Doraville, GA, Atlanta, GA, Savannah, GA, Shreveport, LA, St. Louis, MO, Charlotte, NC, Charleston, SC, Columbia, SC, Knoxville, TN, Memphis, TN, Nashville, TN, Lubbock, TX, Alexandria, VA, Portsmouth, VA, and Roanoke, VA. In addition, Alsco has purchased the business associated with service centers located in Birmingham, AL, Little Rock, AR, Columbus, GA, Asheville, NC, Winston / Salem, NC, New Orleans / Baton Rouge, LA, Greenville, SC, Myrtle Beach, SC, Chattanooga, TN, and Richmond, VA.
Founded in 1919, National Linen & Uniform Service is the leading linen service provider in the Southeast United States. NLUS processes approximately 1.3 billion linen items each year, serves over 16,000 customers, and employs approximately 2,500 individuals. NLUS' 16 plants generate approximately $150 million in annual sales and provide fresh linens on a daily basis to such industry leaders as Outback Steakhouse, The Cheesecake Factory, P.F. Chang's, HCA hospitals, and the Hyatt and Westin families of hotels.
Alsco Inc. is a privately-owned company which has been engaged in the linen supply business since 1889. With headquarters in Salt Lake City, UT, Alsco operates in ten countries with over 13,500 employees. Alsco is listed in Forbes' Top 300 Private Companies based on revenue.
About Kelly Capital
Kelly Capital is a San Diego-based private equity and special situations firm established in 1993 by brothers and co-founders, Michael and Richard Kelly. The firm and its affiliate companies have structured and completed more than $3 billion in transactions as principal investors focused on value investments in operating companies, debt, and real estate. The company has offices in San Diego, Dallas, and Nashville. Additional information about Kelly Capital can be found at www.kellycapital.com.