Pacific Avenue Capital Partners completes continuation vehicle investment with Emerald Textiles

Client(s) Pacific Avenue Capital Partners, LLC

Jones Day advised Pacific Avenue Capital Partners, LLC in the new capital raise to purchase Emerald Textiles, the leading provider of fully outsourced healthcare linen management services in the Western United States, from existing limited partner investors through a continuation vehicle. The transaction also included the refinancing of Emerald Textiles’ existing credit facilities with a new a unitranche facility provided by Ares Capital Corporation and a new asset-based revolving credit facility provided by Wells Fargo Bank, N.A.