M&A Deal Summary

H.I.G. Private Equity Acquires Crothall Healthcare

On December 31, 2020, private equity firm H.I.G. Private Equity acquired business services company Crothall Healthcare from Compass Group

Acquisition Highlights
  • This is H.I.G. Private Equity’s 30th transaction in the Business Services sector.
  • This is H.I.G. Private Equity’s 181st transaction in the United States.
  • This is H.I.G. Private Equity’s 4th transaction in Pennsylvania.

M&A Deal Summary

Date 2020-12-31
Target Crothall Healthcare
Sector Business Services
Buyer(s) H.I.G. Private Equity
Sellers(s) Compass Group
Deal Type Divestiture

Target

Crothall Healthcare

Wayne, Pennsylvania, United States
Crothall Healthcare is a provider of outsourced laundry and linen management services to the healthcare and hospitality markets. Crothall operates a national network with 29 operating locations that service more than 1,000 customer sites and manages a workforce with more than 2,000 employees. Crothall Healthcare was founded in 1991 and is based in Wayne, Pennsylvania.

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Buyer(S) 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.


DEAL STATS #
Overall 273 of 383
Sector: Business Services M&A 30 of 43
Type: Divestiture M&A Deals 34 of 48
State: Pennsylvania M&A 4 of 5
Country: United States M&A 181 of 249
Year: 2020 M&A 17 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-30 GDE Groupe ECORE

Calvados, France

GDE Groupe ECORE is specialized in the recycling industry. The Group manages all stages of the recycling chain, from waste collection to processing, transport, and sale of recycled materials, both in France and abroad. GDE Groupe ECORE is based in Calvados, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-05 Community Intervention Services

Brockton, Massachusetts, United States

Community Intervention Services was formed to acquire, develop and operate a national network of specialized mental health and substance abuse facilities and programs. Community Intervention Services is based in Brockton, Massachusetts.

Sell -

Seller(S) 1

SELLER

Compass Group

Chertsey, United Kingdom

Category Company
Founded 1941
Sector Business Services
Employees580,000
Revenue 42.0B GBP (2024)
DESCRIPTION

Compass Group is a provider of contract foodservice and support services to its clients. It offers various foodservice solutions ranging from free-flow restaurants to formal dining, grab and go deli and café outlets to hospitality services, and vending; and a range of support services, such as cleaning, building operations and maintenance, business and office, logistics and transport, outdoor, project management, and security. Compass Group was incorporated in 1941 and is headquartered in Chertsey, United Kingdom.


DEAL STATS #
Overall 4 of 4
Sector: Business Services M&A 3 of 3
Type: Divestiture M&A Deals 3 of 3
State: Pennsylvania M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-02 Bateman Community Living

Atlanta, Georgia, United States

Bateman Community Living is a provider of catering and management services, and delivers wholesome, nutrient rich meals to to seniors either at home or in congregate settings. Bateman Community Living is based in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-22 CH&CO

Reading, United Kingdom

CH&CO provides contract and hospitality catering services to a broad range of sectors including workplaces, venues, tourist destinations, independent and State schools, further education, healthcare, and events. CH&CO was founded in 1991 and is based in Reading, United Kingdom.

Buy £475M