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O’Keefe, a middle-market investment bank and financial advisory firm, has advised a leading family-owned and operated laundry and sterilization Company on their partial equity sale to Legato Equity, a direct investment firm focused on the Pacific Northwest region. O’Keefe served as the exclusive advisor to the Company (which has chosen to remain confidential).
Serving the healthcare industry for over 30 years, the Company provides laundry and sterilized surgical textile services to hospitals and surgical centers across the Pacific Northwest region. Due to rapid expansion efforts and growing demand in the region, the Company decided to explore capitalization options through a limited auction process which resulted in the partial equity sale to Legato. All management will remain in their current roles and will continue to drive new growth initiatives with the support of Legato’s leadership team.
“O’Keefe ran a well-structured auction process in a very competitive marketplace and obtained multiple offers as a result. We are extremely pleased and excited to partner with Legato Equity. We feel that their past experience working with owner operators and their understanding around our regional expansion initiatives, will add to our operational improvement and internal efficiencies as we expand into other states”, says the Company’s CEO.
Legato Equity is a newly formed middle-market private equity firm that focuses on owner operator businesses. “As an active investor, we look to partner with businesses that have great culture, leadership and core values. We feel very aligned with the Company’s vision and we look forward to partnering with management and building for future growth”, says Erik Lawler, a Partner, and Co-Founder of Legato Equity.
The transaction was led by Managing Director, Marco Eadie and supported by Brian Vargason and other analysts within the Corporate Finance group throughout the transaction. Clark Hill served as legal counsel to the sellers.