M&A Deal Summary

Seaport Capital Acquires Linen King

On February 13, 2020, private equity firm Seaport Capital acquired business services company Linen King from Cimarron Healthcare Capital

Acquisition Highlights
  • This is Seaport Capital’s 4th transaction in the Business Services sector.
  • This is Seaport Capital’s 31st transaction in the United States.
  • This is Seaport Capital’s 1st transaction in Oklahoma.
Investment Fate
  • Linen King was sold to a strategic buyer in 2023.

M&A Deal Summary

Date 2020-02-13
Target Linen King
Sector Business Services
Buyer(s) Seaport Capital
Sellers(s) Cimarron Healthcare Capital
Deal Type Secondary Buyout

Target

Linen King

Tulsa, Oklahoma, United States
Linen King is a provider of outsourced healthcare laundry services to hospitals and healthcare facilities across the mid-South US. Linen King was established in 1999 and is based in Tulsa, Oklahoma.

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Buyer(S) 1

Buyer

Seaport Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
Size Middle-Market
Type Sector Focused
DESCRIPTION

Seaport Capital is a private equity firm that targets equity and mezzanine investments in private middle-market companies. Funds are generally used to support late-stage growth opportunities, as well as buyouts and recapitalizations. Seaport prefers businesses with high margins and recurring revenues. Sectors of interest include marketing services, publishing, media, communications, business services, education, software, cable, and information services. Seaport seeks private companies valued between $25 and $150 million and looks to commit up to $40 million of equity per transaction. Seaport requires board representation and typically holds investments for three to seven years. Seaport Capital was formed in 1997 and is based in New York City.


DEAL STATS #
Overall 33 of 38
Sector: Business Services M&A 4 of 4
Type: Secondary Buyout M&A Deals 2 of 3
State: Oklahoma M&A 1 of 1
Country: United States M&A 31 of 36
Year: 2020 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-22 eostar

Holland, Michigan, United States

eostar is a provider of end-to-end software solutions for beverage distributors, including route accounting, warehouse management, forecasting, and mobile sales capabilities through its proprietary software. eostar was established in 1986 and is based in Holland, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-14 i3 Broadband

Peoria, Illinois, United States

i3 Broadband provides all-fiber-to-the-premises triple-play services to both residential and commercial customers in Central Illinois. i3 Broadband is based in Peoria, Illinois.

Sell -

Seller(S) 1

DESCRIPTION

Cimarron Healthcare Capital is a private equity firm focused on opportunities in the healthcare sector. The Firm pursues lower middle-market companies with $10 to $100 million of revenue where it can commit $10 to $30 million of equity. Prospective transaction situations include leveraged buyouts, majority & minority recapitalizations, growth equity, management-led buyouts, industry consolidations, and corporate carve-outs. Cimarron Healthcare Capital was formed in 2014 and is based in Salt Lake City, Utah.


DEAL STATS #
Overall 1 of 1
Sector: Business Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Oklahoma M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-10 Infusion for Health

Thousand Oaks, California, United States

Infusion for Health is an infusion therapy MSO providing services to Infusion for Health, the premier provider of infusion treatment services to patients in the Los Angeles market. Infusion for Health is based in Thousand Oaks, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-19 Ascent Behavioral Health

Boise, Idaho, United States

Ascent Behavioral Health operates residential programs that deliver behavioral health treatment to adolescents across a continuum of care, including wilderness therapy, residential treatment centers, and a therapeutic boarding school. Ascent provides wilderness therapy, residential treatment, and therapeutic boarding school programs for adolescents with mental health issues such as depression, anxiety, and attachment disorder throughout the state. Ascent Behavioral Health was founded in 1989 and is based in Boise, Idaho.

Buy -