WASH Multifamily Laundry Systems Acquires Automatic Apartment Laundries, Inc.
WASH Multifamily Laundry Systems, a portfolio company of Chicago-based CHS Capital™, has completed the acquisition of Automatic Apartment Laundries, Inc. (AAL). WASH is a portfolio investment of CHS Private Equity V LP, a $1.3 billion investment fund formed in 2005. AAL is the fourth acquisition CHS Capital has completed since its investment in WASH.
Headquartered in Livonia, Michigan, AAL has nearly 65 years of experience managing the coin-laundry operations of the multi-housing industry, including apartments, public and senior housing, colleges and universities. The acquisition expands WASH’s geographic reach into Michigan, Wisconsin and the northern areas of Illinois, Indiana and Ohio.
“AAL has provided the multi-housing community with quality laundry equipment, technologies and service,” said Adam Coffey, President and CEO of WASH. “With our shared business values and 130 years of combined commercial laundry experience, we will continue to deliver superior customer service to an even broader geography."
“WASH is the market share leader in premier geographies on the West Coast and we welcome the opportunity to expand into the Midwest,” said Rich Lobo, Partner at CHS Capital. “We look forward to continuing our growth strategy by acquiring complementary businesses.”
Based in El Segundo, California, WASH is the West Coast’s largest provider of laundry facilities management services for apartment properties, condos, college and university residence halls, military bases and other multi-housing locations. Founded in 1947, WASH provides service to more than 40,000 locations in California, Nevada, Arizona and Hawaii. For additional information about WASH, please visit
www.washlaundry.com.
CHS Capital is a Chicago-based private equity firm with 23 years of experience investing in the middle market. Targeting well-managed companies with enterprise values between $75 - $500 million, CHS Capital partners with management teams to focus on accelerating growth, enhancing capabilities and resources and positioning companies for attractive exits. CHS has specialized expertise in the Consumer & Business Services; Distribution; and Industrial, Infrastructure & Energy sectors and has completed 74 platform investments and 266 add-on investments. Founded in 1988, CHS Capital has raised a total of $2.9 billion in capital across five private equity funds. For additional information about CHS Capital, please refer to the firm’s website at
www.chsonline.com.
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