On July 15, 2025, Northleaf Capital Partners, a global private markets investment firm, and Boston-based AVALT have signed definitive agreements to acquire WASH Multifamily Holdings Inc., a leading North American route-based laundry infrastructure services company, from EQT. The transaction, expected to close in the third quarter of 2025 pending regulatory approvals, underscores WASH’s strong market position and commitment to customer service and technology investment. WASH CEO Jim Gimeson highlighted the strategic partnership as a pivotal step for the company’s growth and value delivery to customers and associates. Northleaf’s Co-Head of Infrastructure, Jared Waldron, emphasized WASH’s resilient business model, essential service offering, and robust free cash flow profile, aligning with Northleaf’s strategy of investing in businesses with strong downside protection and value creation potential. AVALT’s leadership praised WASH’s industry-leading growth and customer satisfaction, expressing enthusiasm for supporting the company’s continued digitization and service enhancements.

BofA Securities acted as lead financial advisor to WASH, with Rothschild & Co also serving as financial advisor, and Weil, Gotshal & Manges LLP as legal advisor. Northleaf and AVALT were advised by TD Securities as financial advisor and Kirkland & Ellis LLP as legal advisor, with TD Securities also providing committed debt financing.

No transaction value was disclosed.