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Surge Private Equity buys laundry/dry-cleaning business

Private equity firm Surge Private Equity wrapped up its purchase of New York City-based Hippodrome Services Corp., which provides outsourced hotel laundry and dry-cleaning services in Manhattan.

The seller, Sam Pritsker, retained an equity stake in the business.

The transaction closed with a roughly $10 million facility provided by Harvest Capital Credit Corp. and Modern Bank NA, which acted as administrative agent.