Seaport Capital has sold Linen King to Healthcare Linen Services Group (HLSG), according to a news release.
Linen King, based in Tulsa, Okla., is a provider of healthcare laundry services in the south-central part of the United States.
Seaport Capital, based in New York, is a private equity firm in the lower middle market. The firm generally pursues investments in communications services, business and information services and media sectors.
HLSG, a portfolio company of York Private Equity, is a provider of linen management services to the healthcare and hospitality industries.
York Private Equity, based in New York, is the private investing arm of York Capital Management. The division primarily targets control investments in middle market businesses. York Private Equity acquired HLSG in 2022.
As part of the transaction, Seaport Capital will receive shares in HLSG.
Terms of the transaction were not disclosed.