Beringea, a global private equity firm providing growth capital to high-potential businesses, is pleased to announce its portfolio company Xanitos, Inc., a specialized provider of environmental services (“EVS”) to hospitals and other acute care settings nationwide, has been acquired by Angeles Equity Partners, LLC (“Angeles”), a private investment firm focused on operational value creation. The financial terms of the transaction were not disclosed.
Xanitos is a mission-driven company focused on helping to save lives through the delivery of 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.
“Angeles’ operating experience, value creation capabilities, and committed capital make them an outstanding partner to support our clients, accelerate our growth and performance, and help us consolidate the EVS sector during this new phase for Xanitos,” said Dave Crothall, CEO of Xanitos.
“Our investment in Xanitos was driven by a strong belief in the life-saving mission of the organization as well as the successful track record of founder and healthcare services visionary Graeme Crothall,” said Michael Gross, managing director of Beringea and previous Xanitos board member. “As expected, Graeme and his team have built an exceptional business by providing crucial services to a variety of highly respected health system clients, and Angeles is a perfect partner to help the company achieve its next stage of growth.”
About Angeles Equity Partners, LLC
Angeles Equity Partners, LLC is a private equity firm that invests in companies across a wide range of sectors and specifically targets businesses which it believes can directly benefit from the firm’s strategic, operational, and M&A capabilities. The Angeles skill set drives the firm’s investment philosophy and, in its view, can help businesses reach their full potential. Learn more online at www.angelesequity.com.
Founded in 2008 by Graeme Crothall, Xanitos provides hospital housekeeping, patient transport, and linen services to hospitals and other acute care settings nationwide. Xanitos is differentiated by its XRO® System in which dirt, dust, and pathogens are removed from the hospital, creating a cleaner and safer environment. As a quality- and service-oriented company, Xanitos continues to apply the same principles of retaining and growing its team to retaining and growing its hospital partnerships. Xanitos’ passion is helping to save lives and partnering with client hospitals to deliver the best possible environment of care for patients. Learn more online at www.xanitos.com.