M&A Deal Summary

Elara Caring Acquires Jordan Health Services

On April 10, 2018, Elara Caring acquired healthcare services company Jordan Health Services from Palladium Equity Partners and Prospect Capital Management

Acquisition Highlights
  • This is Elara Caring’s 3rd transaction in the Healthcare Services sector.
  • This is Elara Caring’s 3rd transaction in the United States.
  • This is Elara Caring’s 1st transaction in Texas.

M&A Deal Summary

Date 2018-04-10
Target Jordan Health Services
Sector Healthcare Services
Buyer(s) Elara Caring
Sellers(s) Palladium Equity Partners
Prospect Capital Management
Deal Type Merger

Target

Jordan Health Services

Addison, Texas, United States
website
Jordan Health Services is a provider of home health services, including personal care, home management, and skilled nursing, to Medicaid and/or Medicare eligible patients throughout the entire state of Texas. With over 12,000 employees in 28 locations serving thousands of clients, Jordan Health Services is one of the largest home healthcare providers in the state of Texas.

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Buyer(S) 1

Buyer

Elara Caring

Dallas, Texas, United States

website


Category Company
Founded 1975
Sector Consumer Services
DESCRIPTION

Elara Caring is a provider of home-based care, with a national footprint in the Northeast, Midwest, and Southwest. Elara Caring leads patients through the post-acute care journey by providing the appropriate level of care, delivered wherever our patients call home. The company’s intimate understanding of its patients’ needs allows it to apply proprietary platforms to deliver proactive, customized care that improves quality of life and keeps patients in their homes. Elara Caring was founded in 1975 and is based in Dallas, Texas.


DEAL STATS #
Overall 3 of 5
Sector (Healthcare Services) 3 of 4
Type (Merger) 3 of 3
State (Texas) 1 of 1
Country (United States) 3 of 5
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-10 Great Lakes Caring

Jackson, Michigan, United States

Great Lakes Home Health Services, Inc. (dba Great Lakes Caring) is a provider of home health care, hospice care, as well as home medical equipment, daily to more than 6,000 patients throughout the Midwest. Great Lakes Caring, based in Jackson, Michigan, offers a broad range of services within the continuum of in-home health care including home health, hospice, home-based primary care, palliative care and private duty services. The company was founded in 1994 by Cherilyn Deary, and has built its business on a patient-centric commitment to superior quality and innovation. Great Lakes Caring has become one of the highest rated home health and hospice companies in the country, developing and implementing its products and services throughout the Midwest. The company employs more than 2,600 health care professionals in 25 offices, providing superior quality home health care, hospice care, palliative care as well as home-based primary care and private duty services to more than 9,000 patients daily.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-10 Assisted Daily Living

Warwick, Rhode Island, United States

Assisted Daily Living is a 50-person, privately owned skilled home healthcare company that provides basic health monitoring, diabetes, medication management, and wound care services. Assisted Daily Living is based in Warwick, Rhode Island.

Buy -

Seller(S) 2

SELLER

Palladium Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Palladium Equity Partners is a private equity firm that looks to invest in businesses focused on the US Hispanic marketplace. Target sectors include business services, financial services, consumer/retail, food/restaurants, healthcare, manufacturing, and media. Palladium's target investment size is $50 to $150 million with an EBITDA of $10 to $75 million. The Firm will consider investing in mature, stable businesses as well as younger companies and turnaround situations. Palladium was formed in 1997 and is based in New York City.


DEAL STATS #
Overall 17 of 24
Sector (Healthcare Services) 1 of 1
Type (Merger) 1 of 1
State (Texas) 4 of 6
Country (United States) 17 of 24
Year (2018) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-29 Vibrantz

Houston, Texas, United States

Vibrantz produces and markets specialty mineral products and additives. It offers naturally occurring minerals for pigment applications. The company’s mineral products include silica, iron chromite and pyrites, magnesite, magnetite, manganese dioxide, manganous oxide, olivine, red iron oxide, spodumene, and zircon. It also offers black iron and red iron oxide, chrome sand, cryolite, chromox, and glassox. In addition, the company provides alumina products, barium carbonate, bauxite, calcium carbonates, coloured sands, feldspar products, lithium products, manganese products, metallic oxides and compounds, perlite ores, and quartz products. Vibrantz is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-10 Pronto Insurance

San Antonio, Texas, United States

Pronto General Agency Ltd. is a full-service Managing General Agency (MGA), broker and claims administrator. Pronto's primary business is the placement of personal automobile insurance for consumers throughout Texas, California and Florida, with a special focus on serving the rapidly growing Hispanic market.

Sell -
SELLER
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.


DEAL STATS #
Overall 43 of 47
Sector (Healthcare Services) 3 of 3
Type (Merger) 1 of 1
State (Texas) 7 of 7
Country (United States) 42 of 46
Year (2018) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-29 Vibrantz

Houston, Texas, United States

Vibrantz produces and markets specialty mineral products and additives. It offers naturally occurring minerals for pigment applications. The company’s mineral products include silica, iron chromite and pyrites, magnesite, magnetite, manganese dioxide, manganous oxide, olivine, red iron oxide, spodumene, and zircon. It also offers black iron and red iron oxide, chrome sand, cryolite, chromox, and glassox. In addition, the company provides alumina products, barium carbonate, bauxite, calcium carbonates, coloured sands, feldspar products, lithium products, manganese products, metallic oxides and compounds, perlite ores, and quartz products. Vibrantz is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-02 FLEETWASH

Fairfield, New Jersey, United States

FLEETWASH is a platform of scale providing professional cleaning services to truck fleets and facilities such as gas stations and grocery stores. FLEETWASH was founded in 1973 and is based in Fairfield, New Jersey.

Sell -