M&A Deal Summary

Almost Family Acquires SunCrest Healthcare

On November 5, 2013, Almost Family acquired healthcare services company SunCrest Healthcare from MBF Healthcare Partners and NMS Capital for 76M USD

Acquisition Highlights
  • This is Almost Family’s 7th transaction in the Healthcare Services sector.
  • This is Almost Family’s 2nd largest (disclosed) transaction.
  • This is Almost Family’s 7th transaction in the United States.
  • This is Almost Family’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2013-11-05
Target SunCrest Healthcare
Sector Healthcare Services
Buyer(s) Almost Family
Sellers(s) MBF Healthcare Partners
NMS Capital
Deal Type Add-on Acquisition
Deal Value 76M USD
Advisor(s) Harris Williams & Co. (Financial)

Target

SunCrest Healthcare

Madison, Tennessee, United States
website
SunCrest Healthcare is a provider of multidisciplinary home health care services to the elderly. The Company operates over 90 branches across 10 states, employing more than 3,000 healthcare professionals and also provides private duty outpatient rehabilitation and hospice services in select markets.

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Buyer(S) 1

Buyer

Almost Family

Louisville, Kentucky, United States

website

Category Company
Founded 1976
Sector Healthcare Services
Employees14,200
Revenue 532M USD (2016)
DESCRIPTION

Almost Family, Inc. is a provider of home health nursing, rehabilitation and personal care services. The company providing skilled compassionate home health care in our local communities. Almost Family was founded in 1976 and is based in Louisville, Kentucky.

DEAL STATS #
Overall 7 of 13
Sector (Healthcare Services) 7 of 12
Type (Add-on Acquisition) 4 of 8
State (Tennessee) 1 of 1
Country (United States) 7 of 13
Year (2013) 2 of 2
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-09 Imperium Health Management

Louisville, Kentucky, United States

Imperium Health Management LLC is a Louisville, KY based, development-stage enterprise that provides strategic health management services to Accountable Care Organizations (ACO’s). Imperium currently provides on-going management services to 4 ACO’s under contract, 3 of which are in current Almost Family service territory, and has also assisted 9 additional ACO’s in making application to CMS for future operation.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-25 Bracor

Buffalo, New York, United States

Bracor, Inc. (dba WillCare HealthCare) is a provider of skilled home health and personal care services

Buy $51M

Seller(S) 2

SELLER

MBF Healthcare Partners

Coral Gables, Florida, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2005
PE ASSETS 397M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

MBF Healthcare Partners (MBF) is a specialist private equity firm that makes investments in emerging and established healthcare companies. MBF seeks investments in businesses with EBITDA of at least $5 million and valued up to $300 million. MBF prefers control ownership positions with typical acquisitions coming in the form of outright business purchases, growth financings, or recapitalizations. MBF Healthcare Partners is based in Coral Gables, Florida.

DEAL STATS #
Overall 5 of 13
Sector (Healthcare Services) 4 of 8
Type (Add-on Acquisition) 4 of 9
State (Tennessee) 1 of 1
Country (United States) 5 of 13
Year (2013) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-27 eMindful

Orlando, Florida, United States

eMindful is a specialized, comprehensive solution through evidence-based programs that improve participants' health and well-being. Its technology-enabled solutions are delivered through live, online classrooms taught by licensed health professionals, including physicians and psychotherapists, and are designed to assist individuals to prevent, mitigate, and slow the progression of diseases associated with family, work, and lifestyle risk factors. eMindful was founded in 2003 and is based in Vero Beach, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-09 FDC Vitamins

Miami, Florida, United States

FDC Vitamins LLC engages in the manufacture, marketing, and distribution of nutritional supplements, including vitamins, minerals, sports supplements and diet products. The company markets its branded products to wholesalers, distributors, food, drug, and mass merchandisers, pharmacies, health food stores and international customers under the FDC Vitamins, Natural Force and Betancourt Nutrition brand names.

Sell $85M
SELLER

NMS Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2010
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

New MainStream Capital is a private investment firm that specializes in strategic equity investments and leveraged buyouts. The Firm targets middle-market growth companies throughout the US. New Mainstream focuses on companies with experienced management, high operating margins, and strong cash flows. New MainStream looks to invest $25 to $75 million in companies valued up to $150 million. The Firm will consider opportunities in a variety of sectors, however the Firm has a special interest in healthcare services, consumer products/services, and specialized business services. New MainStream Capital was formed in 2010. The Firm is based in New York City with an additional office in Dallas, Texas.

DEAL STATS #
Overall 4 of 7
Sector (Healthcare Services) 2 of 3
Type (Add-on Acquisition) 4 of 5
State (Tennessee) 1 of 1
Country (United States) 4 of 6
Year (2013) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-07 Aela Energia

Santiago, Chile

Aela Energía is a renewable energy generation company that has a 332 MW portfolio of three newly-built operating wind assets in Chile. Aela’s portfolio consists of the Sarco wind farm (170 MW), the Aurora wind farm (129 MW), and the Cuel wind farm (33 MW). Aela Energia was founded in 2013 and is based in Santiago, Chile.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-04 ettain group

Charlotte, North Carolina, United States

ettain group, Inc. is a talent solutions firm that delivers Recruitment Services and Managed Services in three practice areas: IT, Healthcare IT, and Digital Creative. From discovery to execution, ettain helps clients successfully design, develop, and deliver critical technology and business initiatives, from providing individual resources, to staffing and managing critical programs and projects, to running entire recruitment processes. Founded in 1996, with nearly 1,300 employees and consultants currently at work, ettain offer opportunities across North America, with offices in Charlotte, Dallas, Minneapolis, Nashville, Raleigh, Washington, D.C., and Winston Salem.

Buy -
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