Surge PE Closes Investment Into White Plains Linen

DALLAS--(BUSINESS WIRE)--On August 1^st, 2025 Surge Private Equity LLC (“Surge”) closed on its investment into White Plains Linen (“WPL”), a leading provider of commercial laundry services based in Peekskill, New York. The transaction, valued over $50MM, closed with debt financing provided by Capital Southwest Corporation. Jackson Walker LLP acted as lead counsel to Surge, and Moss Adams/Baker Tilly provided financial diligence for the transaction. IMG Business Advisors acted as lead advisor for the deal.

Founded in 1938, WPL has built a strong reputation serving the New York metropolitan area’s hospitality industry, including restaurants and hotels. The company provides a full range of textile rental and laundry services known for their reliability, high-touch customer services, and ability to meet the needs of premium clients with tight turnaround times. The company boasts an 86% rate of recurring revenue, reflecting the long-standing relationships and ongoing demand from its customer base.

“We are excited to partner with a company as established and respected as White Plains Linen,” said Lewis Sharp, Partner at Surge. “Their reputation for quality and customer loyalty aligns well with our investment strategy, and we look forward to supporting their continued growth.” Bruce Botchman, the seller, added, "With eight years of active involvement in the NYC commercial services space, Surge has developed a network of skilled operators and will help White Plains provide better services to its customers.”

This marks Surge’s fifteenth platform investment and sixth acquisition within the broader New York City commercial services industry.

About Surge Private Equity

Founded in 2017, Surge is a Dallas-based private equity firm that seeks majority investments in growing businesses with $4MM – $35MM of EBITDA. Together with its lending partners, Surge provides entrepreneurs with liquidity and investors with higher yields and greater accessibility.

About Capital Southwest Corporation

Capital Southwest Corporation (NASDAQ: CSWC) is a publicly traded, internally managed business development company with over half a century of experience investing in middle-market businesses throughout the United States. The firm provides flexible financing solutions, including debt and equity investments, to support buyouts, acquisitions, growth financings, and recapitalizations. CSWC manages investable capital of approximately $2.1 billion across 100+ businesses with investment size per deal ranging from $5.0 million to $50.0 million across middle-market businesses with $3.0 million to $25.0 million of EBITDA.