Livingstone is pleased to announce the successful LBO financing for Angeles Equity Partners (“Angeles”) to support the platform acquisition of Xanitos, Inc. (“Xanitos” or the “Company”). Stellus Capital Management, LLC (“Stellus”) provided the financing.
Founded in 2008 and headquartered in Pennsylvania, Xanitos is a specialized provider of environmental services (“EVS”) to hospitals and other acute care settings nationwide. The Company is focused on helping to save lives by delivering high-quality on-site services such as EVS, linen distribution, laundry management, and patient transport to hospitals nationwide. Their proprietary systems and software, including the patented XRO® (Xanitos Room Optimization) cleaning system, allow Xanitos to deliver improved performance metrics, such as higher Hospital Consumer Assessment of Healthcare Providers and Systems (“HCAHPS”) scores and reduced infection rates, at a compelling value to client hospitals.
Tom Lesch, Partner at Livingstone, commented, “Speed and certainty are what sponsors are focusing on to close deals. Our debt process is designed for that outcome. We are very pleased to have worked with Angeles on the transaction.”
“We are excited to have worked with Angeles on such an important transaction. As our firms overlap in key sector areas, we look forward to continuing to build upon our solid relationship with Angeles,” stated David Misch, Partner and head of Private Equity coverage at Livingstone.
This transaction reinforces Livingstone’s position as the debt advisor of choice for private equity sponsors, following successful financings for Aterian Investment Partners, Frontenac Capital, Huron Capital, L Catterton, and RFE Investment Partners.