Arctaris Impact Investors Completes Additional Growth Equity Investment in Up To Date Laundry, Sustaining Quality Jobs in Baltimore

BALTIMORE & BOSTON–(BUSINESS WIRE)–Arctaris Impact Investors, LLC (“Arctaris”) is pleased to announce a follow-on growth equity investment in Up To Date Laundry (“UTD”). As one of the largest healthcare laundry facilities on the East Coast, UTD provides laundry services to healthcare providers throughout the Mid-Atlantic, including the University of Maryland Medical System, Johns Hopkins and Einstein Medical Center. The investment in UTD is part of the Arctaris-Baltimore program, a $25 million commitment to invest in Baltimore’s underserved neighborhoods in partnership with the Abell Foundation and the Neighborhood Impact Investment Fund (NIIF) and with the support of Erie Insurance (ERIE) was created through its investment in the Arctaris Opportunity Zone Funds.

In March 2021, Arctaris made an initial investment in UTD to support the company’s continued growth and expansion. This additional growth capital investment by Arctaris will now fund projects such as increased automation at UTD’s main facility on Desoto Rd., several energy efficiency improvements and the ability to purchase linens for new linen rental customers. These upgrades will allow UTD to create additional high-skilled jobs, improve production efficiencies and reduce overall energy consumption.

UTD is a long-established Baltimore company and a significant driver of sustainable job creation with above-market wages and benefits. Located in an economically depressed neighborhood with an unemployment rate of 15.9%, the company has a diverse base of over 200 full-time employees and over 300 temporary workers. UTD President and CEO Mark Carter commented, “Arctaris Impact Investors is a value-added financial partner that not only provides capital, but supports the team through its business development and employee training relationships.”

UTD intends to create up to 50 jobs in Baltimore over a two-year period. With medical laundries considered an essential service industry during the pandemic, UTD provided critical services that enabled its hospital customers to focus their efforts on fighting COVID and enabling safer care for patients.

In addition to the investments, Arctaris Portfolio Services Group has actively worked with UTD management, advising on raising contingent capital such as staff development grants and obtaining PACE (Property Assessed Clean Energy) funding to upgrade current equipment, to improve water use and reduce energy consumption. Not only are these improvements expected to benefit local water systems and the balance of marine life, but the expected reduction in greenhouse gases from power generation is 1,900 tonnes of CO2e annually. Anita Graham, Managing Director of Arctaris, responsible for Maryland, Eastern Pennsylvania and Washington, DC, said, “Up To Date Laundry is an excellent example of a company trying to extend its commitment to its customers, employees and the city of Baltimore in without compromising the health of the nearby ecosystem.”

Arctaris’ Phase I Baltimore program has provided private sector investment to growing businesses in Baltimore’s most vulnerable communities to help foster economic prosperity. As an anchor investor, the Abell Foundation has committed $4 million in catalytic capital to Arctaris Baltimore. “Arctaris Impact Investors supports companies that value people and communities alongside their business,” said Eileen O’Rourke, Abell’s CFO and director of impact investing. “The Arctaris team is committed to providing their time, talent and connections to grow these influential companies, create more jobs and support vibrant and more inclusive communities.”

In addition, NIIF has committed $1 million in capital focused on a defined set of “eligible neighborhoods” comprising 65% of Baltimore where the City has directed NIIF to deploy capital to build a number to accelerate coordinated efforts to revitalize the community.

Finally, Arctaris’ investment in UTD by ERIE Insurance is part of an $8 million commitment the company has made to fund business and community development projects in underserved communities within the company’s footprint, including Baltimore. “We are excited to partner with Arctaris to make an Opportunity Zone investment in Baltimore’s Up To Date Laundry, Inc.,” said Christina Marsh, chief diversity and community development officer at Erie Insurance. “When ERIE considers investment opportunities with a social impact, we look for innovative companies that also closely align with our values. UTD’s humble beginnings serving ships from New York in the Port of Baltimore and 75-year history of hiring local people and giving back to the communities they serve are inspirational. We look forward to being part of their growth.”

In addition to its community partners in Baltimore, Calvert Street Partners, a Baltimore-based middle-market investment firm, has invested in UTD with Arctaris. Arctaris’ nearly $14 million investment in UTD is the cornerstone of Arctaris’ $25 million Phase I Baltimore program. Arctaris is currently exploring new real estate, infrastructure and operating company opportunities to expand its mission and commitment to Baltimore.

About Arctaris Impact Investors

Arctaris Impact Investors, LLC is a Boston-based impact investment firm with over 13 years’ experience across seven funds. The firm manages funds that invest in growth-oriented companies and community infrastructure projects located in underserved communities. Founded in 2009, Arctaris has partnered with the Kresge Foundation, Harvard Business School Professor Michael Porter’s Initiative for a Competitive Inner City, and several other foundations, federal, and state agencies to work in opportunity zones, inner cities, and targeted rural communities in to invest in the United States with the goal of achieving above-average investment returns in addition to positive social impact. Visit for more information or contact [email protected] for press inquiries.

About Up To Date Laundry, LLC

Based in Baltimore, Maryland, Up To Date Laundry is one of the largest healthcare laundries on the East Coast, processing nearly 70 million pounds of healthcare laundry each year. It provides rental and customer asset processing and full exchange car programs for hospitals in the Mid-Atlantic region.

Its non-acute division, Up To Date Healthcare, offers a full line of medical linen rentals for physician’s offices, surgical centers, out-of-hospital hospitals and nursing homes. Up To Date also offers consulting services through UTD Consulting, which provides knowledgeable healthcare laundry professionals with more than 150 years of combined experience. Up To Date Laundry’s processing facility is HLAC (Healthcare Laundry Accreditation Council) certified, TSRA Clean Green certified and Hygienically Clean certified.

About the Abell Foundation

The Abell Foundation is dedicated to improving the quality of life in Maryland, with a special focus on Baltimore City. The Foundation places a strong emphasis on providing opportunities for the disenfranchised, believing that no community can thrive without including those living on the margins. Visit for more information.

About Neighborhood Impact Investment Fund

NIIF is a mission-driven 501(c)(3) investment fund launched by the City of Baltimore last year, dedicated to providing capital and promoting inclusive, equitable growth in Baltimore’s historically disinvested neighborhoods. With a $51.7 million city anchor commitment, NIIF seeks to support communities through loans and investments that can accelerate community revitalization, boost business activity and provide greater economic opportunity for residents. For more information, visit

About Erie Insurance

According to AM Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 11th largest homeowners insurer, the 13th largest automobile insurer, and the 13th largest commercial insurance insurer in the United States based on direct premiums written. Founded in 1925, Erie Insurance is a Fortune 500 company and the 19th largest property/casualty insurer in the United States by total net premiums written. Rated A+ (Superior) by AM Best, ERIE has more than 6 million active policies and operates in 12 states and the District of Columbia. Press releases and additional information are available on the ERIE website at


2022 All information is property of Arctaris Impact Investors LLC (“Arctaris”). It is reasonably believed to be true and accurate at the time of issue. It is intended for informational purposes only, related to Arctaris’ Impact mission and is not intended to constitute investment advice in any way. This material is not an offer or solicitation of any security or investment product.

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