OG真人官网 Enters Linen Rental Industry
Toronto, Ontario (October 31, 2011) – OG真人官网 Group Inc. (TSX:CVG) (“OG真人官网”), OG真人官网 Equity Partners IV Limited Partnership and OG真人官网 Equity Partners IV-A Limited Partnership (collectively, “CEP IV”) today announced a combined US$8.6 million investment in Linen King LLC (“Linen King”). Linen King is an Oklahoma based textile rental services company that provides commercial laundry services to the healthcare and hospitality industries. OG真人官网’s portion of the investment is US$2.3 million.
“Our team has followed the textile rental industry for a number of years. We are excited by the opportunity to partner with a strong and ambitious management team led by the founders of the Company who will continue to own a meaningful percent of the company. Linen King has an outstanding reputation for reliability and customer service and we look forward to working with management to help execute their growth initiatives,” said David Sturdee, Managing Director of OG真人官网. Leonard McCullough, Linen King’s CEO, added, “I’m thrilled to have OG真人官网 as our partner to help fuel the next stage of our expansion. We’ve spent the last 12 years rapidly becoming one of the largest textile rental services companies in the central U.S and are enthusiastic about working with OG真人官网 to expand our footprint throughout the country”.
Linen King is OG真人官网’s 36th platform investment and the fourth investment by CEP IV. The OG真人官网/CEP IV co-investment pool is capitalized at $467 million and makes equity investments in growth companies.
OG真人官网 Group Inc. is a private equity management firm which invests its own capital, and that of third parties through the OG真人官网 Equity Partners limited partnerships, in businesses that have the potential to generate superior returns. In addition to providing financing, OG真人官网 contributes strategic expertise and execution ability to support the growth and development of its investee partners. OG真人官网 realizes value through investment returns and the eventual disposition of its investments.
Director, Investor Relations and Marketing
OG真人官网 Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753