M&A Deal Summary

Centerbridge Partners and Vistria Group Acquire Help at Home

On October 30, 2020, asset manager Centerbridge Partners and private equity firm Vistria Group acquired healthcare services company Help at Home from Wellspring Capital Management

Acquisition Highlights
  • This is Centerbridge Partners’ 5th and Vistria Group’s 3rd transaction in the Healthcare Services sector.
  • This is Centerbridge Partners’ 33rd and Vistria Group’s 12th transaction in the United States.
  • This is Centerbridge Partners’ 5th and Vistria Group’s 1st transaction in Illinois.
Investment Fate
  • Help at Home was sold to a strategic buyer in 2021.

M&A Deal Summary
Date 2020-10-30
Target Help at Home
Sector Healthcare Services
Buyer(s) Centerbridge Partners
Vistria Group
Sellers(s) Wellspring Capital Management
Deal Type Secondary Buyout

Target

Help at Home

Chicago, Illinois, United States
website
Help at Home is a home care provider delivering in-home care to seniors and persons with disabilities. Help at Home was founded in 1975 and is based in Chicago, Illinois.

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Buyer(S) 2

Buyer

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Asset Manager
Founded 2005
PE ASSETS 16.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 41 of 46
Sector (Healthcare Services) 5 of 6
Type (Secondary Buyout) 23 of 26
State (Illinois) 5 of 5
Country (United States) 33 of 38
Year (2020) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-08 American Bath Group

Savannah, Tennessee, United States

American Bath Group is a manufacturer of residential, commercial, assisted living, senior care, and premium showroom bathing products. The Company sells its products through wholesale and retail channels to a diverse base of builders, plumbers, general contractors, and individual end-users. ABG's predecessor entity was founded in 1993 and is based in Savannah, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-15 Community Psychiatry Management

Sacramento, California, United States

Community Psychiatry Management LLC is a behavioral health practice management company supporting over 40 affiliated psychiatrists practicing in California’s Sacramento, San Joaquin, and Bay Areas. Community Psychiatry Management was founded in 1995 and is based in Sacramento, California.

Buy -
Buyer

Vistria Group

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Agnostic
DESCRIPTION

The Vistria Group is a middle-market private equity firm focused on the education, healthcare, and financial services industries. Vistria was formed in 2013 and is based in Chicago, Illinois.

DEAL STATS #
Overall 12 of 28
Sector (Healthcare Services) 3 of 7
Type (Secondary Buyout) 4 of 12
State (Illinois) 1 of 2
Country (United States) 12 of 28
Year (2020) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-19 St. Croix Hospice

Oakdale, Minnesota, United States

St. Croix Hospice is a provider of hospice services across the midwestern United States. Founded in 2008 and based in Oakdale, Minnesota, the Company delivers both hospice and a broader network of concurrent comfort and support services that are tailored to patients' and their family's individual needs and circumstances.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Edmentum

Bloomington, Minnesota, United States

Edmentum provides education technology solutions for kindergarten through adult learners, offering curricula for reading, writing, mathematics, science, social studies, and life and job skills. Edmentum was founded in 1960 and is based in Bloomington, Minnesota.

Buy -

Seller(S) 1

SELLER

Wellspring Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1995
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Wellspring Capital Management is a mega-sized private equity firm that focused on a variety of transaction situations. The Firm will consider buyouts of private companies, acquisitions of divisions or subsidiaries of public companies, shareholder liquidity needs, partnering with entrepreneurs for growth opportunities, and special situations. Wellspring does not have any sector preferences and is capable of pursuing transactions valued up to $2 billion. Wellspring Capital Management was formed in 1995 and is based in New York City.

DEAL STATS #
Overall 33 of 36
Sector (Healthcare Services) 3 of 3
Type (Secondary Buyout) 13 of 15
State (Illinois) 2 of 2
Country (United States) 29 of 32
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-08 Cadence Petroleum Group

Asheboro, North Carolina, United States

Cadence Petroleum Group is a distributor of lubricants, fuel, antifreeze, diesel exhaust fluid, and other ancillary products for the eastern and central United States. Cadence Petroleum Group was founded in 1947 and is based in Asheboro, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-15 HealthPRO Heritage

Hunt Valley, Maryland, United States

HealthPRO Heritage is a diversified provider of therapy management and consulting services across the spectrum of care. HealthPRO operates in 32+ states, employs more than 9,000 therapists, and has earned a reputation for innovation, compliance, and sophisticated use of technology to optimize patient and business level outcomes.

Buy -
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