Seattle, WA, November 7, 2019 –
JD Merit, a Tacoma, Washington based middle-market investment bank, is pleased to announce a growth capital investment in Apex Linen Service LLC (“Apex Linen”) by an affiliate of Highland Avenue Capital Partners LLC (“Highland”).
JD Merit served as the exclusive financial advisor to Apex Linen throughout the process.
Apex Linen is a privately-owned company based in Las Vegas that specializes in linen and laundry services for the hospitality industry.
“We ran a wide process with a number of investors interested in Apex Linen,” said Merit Investment Bank Managing Director Phillip Cooper, who was the lead banker on this transaction. “In the end, it was very gratifying to introduce Apex Linen to Highland, given their knowledge and experience in the laundry industry. Led by long-time industry expert Joseph Dramise, Apex Linen is well positioned for the tremendous growth opportunities they have ahead of them.” “The Apex Linen deal was a strategically important deal in the highly competitive business process outsourcing (BPO) market,” explained Merit Investment Bank CEO Craig Dickens. “Finding the right buyer to enable Apex Linen management and ownership to realize their goals and grow the business rapidly was critical.”
About Merit Investment Bank:
Merit Investment Bank is a leading Boutique Investment Bank focused on serving middle market companies. They are a client-focused team of experienced entrepreneurs, operating executives, and investment bankers with expertise in a broad range of industries. Merit Harbor, member FINRA / SIPC, is a full-service Broker Dealer licensed in 50 states executing sell-side and buy-side M&A transactions, debt and equity capital raises, corporate finance, real estate development and project finance.
About Apex Linen:
Founded in 2010 by long-established industry expert, Joseph Dramise, Apex Linen is a provider of commercial laundry and linen services to the hotel and gaming industry in the Las Vegas metropolitan area. Apex Linen maintains a reputation for providing the highest quality commercial laundry services in the region and services many of the largest hotels on the Las Vegas strip.
About Highland Avenue Capital Partners:
Founded in 2016, Highland Avenue Capital Partners is a private investment firm based in Hermosa Beach, California. The firm focuses on creating transformational value with lower middle market companies within the business services sector.