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Laxman Pai, Opalesque Asia: The private investment firm Calera Capital has raised roughly $750 million for a new single-asset continuation fund to take on ImageFIRST Healthcare Laundry Specialists from its Fund V portfolio.
According to a press release from the middle-market private equity investment firm the continuation fund, managed by Calera, is supported by new and returning limited partners and anchored by funds managed by Goldman Sachs Asset Management, Blackstone Strategic Partners, TPG GP Solutions, and Portfolio Advisors.
Calera and the ImageFIRST management team rolled significant sale proceeds into the continuation fund and Calera made a new equity commitment from its latest flagship fund as part of the transaction.
The continuation fund transaction will provide substantial additional capital to support the continued execution of ImageFIRST's core organic growth strategy, facilitate expansion into new healthcare markets and adjacent services, and continue the development of the Company's internal infrastructure, said the release.
Since Calera's initial investment in 2018, ImageFIRST has grown pro forma EBITDA by approximately five-fold through both organic and inorganic growth, it said.
Under the leadership of President and CEO Jim Cashman, the Company's growth strategy has focused on providing the highest levels of customer service while expanding via a combination of organic growth, geographic market expansion, and strategic add-on transaction...................... To view our full article Click here
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