October 23, 2017 8:45 AM ET

Commercial Services and Supplies

Company Overview of Angelica Textile Services, Inc.

Company Overview

Angelica Textile Services, Inc. provides textile rental and linen management products and services to the healthcare market in the United States. The company provides various products, such as kits, sliders, and mats. It also offers various garment solutions, including patient gowns, scrub sets, surgical gowns, warm-up jackets, and lab coats. The company was formerly known as Angelica Healthcare Services Group, Inc. and changed its name to Angelica Textile Services, Inc. in April 1996. The company was incorporated in 1977 and is based in Alpharetta, Georgia. Angelica Textile Services, Inc. operates as a subsidiary of Angelica Corporation.

1105 Lakewood Parkway

Suite 210

Alpharetta, GA 30009

United States

Founded in 1977

Phone:

678-823-4100

Fax:

678-823-4165

Key Executives for Angelica Textile Services, Inc.

Chief Executive Officer, President, and Director
Age: 62
Vice President, Secretary, and General Counsel
Age: 67
Senior Vice President of Strategy, Marketing, and Sales Administration
Vice President of Financial Analysis and Planning
Age: 58
Senior Vice President of Sales and Service
Age: 57
Compensation as of Fiscal Year 2017.

Angelica Textile Services, Inc. Key Developments

Second Amended Liquidation Plan and Disclosure Statement Filed by Angelica Corporation

Angelica Corporation filed second amended plan of liquidation with related disclosure statement in the US Bankruptcy Court on June 23, 2017. As per the amended plan filed, Holders of the Term Loan B-2 Claims are expected to recover approximately 97% of the allowed amount in full satisfaction and will release any Term Loan B-2 Collateral remaining in the Debtors’ Estates after the consummation of the Sale. The holders of the Allowed Term Loan B-1 Claim are not expected to recover any amount.

Motion for Asset Sale Approved for Angelica Corporation

The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Angelica Corporation on June 23, 2017. The debtor has been authorized to sell its substantially all its assets to 9W Halo Holdings L.P., the stalking horse bidder for a purchase price of approximately $125 million including cash and cash consideration and a credit bid in the amount of $17.4 million, plus the assumption of certain liabilities.

First Amended Liquidation Plan and Disclosure Statement Filed by Angelica Corporation

Angelica Corporation filed first amended plan of liquidation with related disclosure statement in the US Bankruptcy Court on June 21, 2017. As per the plan filed, Holders of General Unsecured Claims will recover approximately 0% to 3% of the allowed amount. The treatment of other classes of claims remains unchanged.

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Recent Private Companies Transactions

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No transactions available in the past 12 months.
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