Arctaris Impact Investors Completes Additional Growth Equity Investment in Up To Date Laundry, Sustaining Quality Jobs in Baltimore

Opportunity Zone Investment in Company Expansion and Living Wage Job Creation in Baltimore

BALTIMORE & BOSTON--()--Arctaris Impact Investors, LLC (“Arctaris”) is pleased to announce a follow-on growth equity investment in Up To Date Laundry (“UTD”). One of the largest healthcare laundry facilities on the East Coast, UTD provides laundry services to healthcare providers across the mid-Atlantic, including University of Maryland Medical System, Johns Hopkins, and Einstein Medical Center. The investment in UTD is part of the Arctaris Baltimore Program, a $25 million commitment to invest in Baltimore’s underserved neighborhoods, created in partnership with The Abell Foundation and Neighborhood Impact Investment Fund (NIIF) and with support from Erie Insurance (ERIE) through its investment in the Arctaris Opportunity Zone Funds.

In March 2021, Arctaris made an initial investment in UTD to aid the company’s continued growth and expansion. Now, this additional growth equity investment from Arctaris will fund projects such as increased automation at UTD’s main plant on Desoto Rd., multiple energy efficiency improvements, and the ability to purchase linens for new linen rental customers. These upgrades will allow UTD to create additional highly skilled jobs, improve production efficiencies, and reduce overall energy consumption.

UTD is a long-standing business in Baltimore and is a significant driver of sustainable job creation, paying above market wages and benefits. Located in an economically distressed neighborhood with a 15.9% unemployment rate, the company has a diverse base of 200+ full-time employees, as well as 300+ temporary employees. The President and CEO of UTD Mark Carter noted “Arctaris Impact Investors is a value-add financial partner who not only provides capital but supports the team, through its relationships, in the areas of business development and workforce training.”

UTD aims to add up to 50 jobs in Baltimore over two years. With medical laundries deemed an essential service industry during the pandemic, UTD provided critical services allowing its hospital clients to focus their efforts on fighting COVID and facilitate safer care for patients.

In addition to the investments, the Arctaris Portfolio Services Group has actively worked with and advised UTD management in securing concessionary capital such as workforce development grants and obtaining Property Assessed Clean Energy (PACE) financing which upgrades current equipment to improve water utilization and reduce energy consumption. These improvements are projected to benefit not only the local water systems and the balance of aquatic life, but the anticipated reduction in greenhouse gas from energy production is 1,900MT CO2e annually. Anita Graham, Arctaris Managing Director responsible for Maryland, eastern Pennsylvania, and Washington, D.C., stated, “Up To Date Laundry is a prime example of a company seeking to balance its commitment to its customers, workers, and the city of Baltimore, all while not compromising the health of the nearby ecosystem.”

The Arctaris Phase I Baltimore Program has provided private sector investment for growing companies in Baltimore’s most challenged communities to help drive economic prosperity. As an anchor investor, The Abell Foundation committed $4 million in catalytic capital to Arctaris Baltimore. “Arctaris Impact Investors supports companies that value people and communities in addition to business,” said Eileen O’Rourke, Abell’s CFO and Director of Impact Investing. “The Arctaris team offers their time, talent, and connections to grow these high-impact companies, to create more jobs and to support vibrant and more inclusive communities.”

Additionally, NIIF committed $1 million in capital focused on a defined set of “eligible neighborhoods,” comprising 65% of Baltimore, and where the City has directed NIIF to deploy capital to accelerate a set of coordinated community revitalization efforts.

Lastly, ERIE Insurance’s investment in UTD through Arctaris is part of an $8 million commitment the company made to fund businesses and community development projects in underserved communities within the company’s footprint including Baltimore. “We’re pleased to partner with Arctaris to make an Opportunity Zone investment in Baltimore’s Up To Date Laundry, Inc.,” said Christina Marsh, Chief Diversity and Community Development Officer at Erie Insurance. “When ERIE considers social impact investment opportunities, we seek out innovative companies that also align closely with our values. UTD’s humble beginnings servicing ships from New York in Baltimore Harbor and 75-year history of hiring local and giving back to the communities they serve are inspiring. We are pleased to be part of their growth.”

In addition to its Baltimore community partners, Calvert Street Partners, a middle market investment firm based in Baltimore, co-invested with Arctaris in UTD. The almost $14 million Arctaris investment in UTD is the cornerstone of the $25 million Arctaris Phase I Baltimore Program. Arctaris is currently sourcing new real estate, infrastructure, and operating company opportunities to expand its mission and commitment to Baltimore.

About Arctaris Impact Investors

Arctaris Impact Investors, LLC is a Boston-based impact investment firm with experience spanning more than 13 years over seven funds. The firm manages funds which invest in growth-oriented operating businesses and community infrastructure projects located in underserved communities. Founded in 2009, Arctaris has partnered with the Kresge Foundation, Harvard Business School Professor Michael Porter’s Initiative for a Competitive Inner City, and multiple other foundation, federal and state government agencies to invest in Opportunity Zones, inner cities and targeted rural communities throughout the U.S., with the aim of delivering above-market investment returns alongside positive social impact. For more information visit or for press inquiries contact

About Up To Date Laundry, LLC

Located in Baltimore, Maryland, Up To Date Laundry is one of the largest healthcare laundries on the east coast, processing close to 70 million pounds of healthcare linen each year. It offers rental and customer-owned goods processing, as well as full exchange cart programs for hospitals in the Mid-Atlantic region.

Its non-acute division, Up To Date Healthcare, offers a full line of healthcare linen rental items for doctor’s offices, surgery centers, hospital off-sites, and nursing homes. Up To Date also offers consulting services through UTD Consulting, which provides knowledgeable healthcare laundry experts with more than 150 years of combined experience. The Up To Date Laundry processing facility is HLAC (Healthcare Laundry Accreditation Council) certified, TSRA Clean Green certified, and Hygienically Clean certified.

About The Abell Foundation

The Abell Foundation is dedicated to the enhancement of the quality of life in Maryland, with a particular focus on Baltimore City. The Foundation places a strong emphasis on opening the doors of opportunity to the disenfranchised, believing that no community can thrive if those who live on the margins of it are not included. For more information visit

About Neighborhood Impact Investment Fund

NIIF is a mission-driven 501(c)(3) investment fund launched last year by the City of Baltimore and dedicated to delivering capital and promoting inclusive, equitable growth in Baltimore’s historically disinvested neighborhoods. With an anchor commitment of $51.7 million from the City, NIIF seeks to support communities through loans and investments that can accelerate community revitalization, catalyze business activity and provide greater economic opportunity for residents. For more information visit

About Erie Insurance

According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 11th largest homeowner’s insurer, 13th largest automobile insurer and 13th largest commercial lines insurer in the United States based on direct premiums written. Founded in 1925, Erie Insurance is a Fortune 500 company and the 19th largest property/casualty insurer in the United States based on total lines net premium written. Rated A+ (Superior) by A.M. Best, ERIE has more than 6 million policies in force and operates in 12 states and the District of Columbia. News releases and more information are available on ERIE’s website at

Legal Disclaimer

2022 All information is the property of Arctaris Impact Investors LLC ("Arctaris"). It is reasonably believed to be true and accurate at the time of issuance. It is intended to be informational only, related to the impact mission of Arctaris and in no way is intended to be relied upon as investment advice. This material is not an offer or solicitation of any security or investment product.


Press inquiries:

Release Summary

Opportunity Zone Investment in Company Expansion and Living Wage Job Creation in Baltimore


Press inquiries: