M&A Deal Summary

Almost Family Acquires Cambridge Home Health Care

On August 5, 2011, Almost Family acquired healthcare services company Cambridge Home Health Care from Transition Capital Partners, Progress Equity Partners, Evolve Capital and Harbert Private Capital for 33M USD

Acquisition Highlights
  • This is Almost Family’s 5th transaction in the Healthcare Services sector.
  • This is Almost Family’s 6th largest (disclosed) transaction.
  • This is Almost Family’s 5th transaction in the United States.
  • This is Almost Family’s 2nd transaction in Ohio.

M&A Deal Summary
Date 2011-08-05
Target Cambridge Home Health Care
Sector Healthcare Services
Buyer(s) Almost Family
Sellers(s) Transition Capital Partners
Progress Equity Partners
Evolve Capital
Harbert Private Capital
Deal Type Add-on Acquisition
Deal Value 33M USD

Target

Cambridge Home Health Care

Akron, Ohio, United States
Cambridge is a provider of home healthcare to individuals who require assistance with activities of daily living or skilled nursing care in the comfort of their own home. It provides home healthcare for individuals referred by physicians, hospitals, managed care organizations and government funded agencies.

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Buyer(S) 1

Buyer

Almost Family

Louisville, Kentucky, United States
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 5 of 13
Sector (Healthcare Services) 5 of 12
Type (Add-on Acquisition) 3 of 8
State (Ohio) 2 of 3
Country (United States) 5 of 13
Year (2011) 1 of 1
Size (of disclosed) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-02 Fayette County Memorial Hospital Foundation

Washington Court House, Ohio, United States

Fayette County Memorial Hospital Foundation, Inc. operates as a hospital that provides general acute care services to the community.

Buy -
FOLLOWING 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 -

Seller(S) 4

SELLER

Transition Capital Partners

Southlake, Texas, United States

Investor Investor Investor Investor

Category Family Office
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Transition Capital Partners is a private investment firm focused on leveraged recapitalizations of entrepreneurial service-based businesses. Transition generally looks for high-growth companies with $2 million to $8 million of EBITDA where the firm can help position the company for the next level of growth. Sectors of interest include healthcare services, non-asset based logistics, retail, alternative energy and services, security services, direct marketing, software, branded food/beverage, education, telecom, oil/gas services, and outsourcing. The Firm is affiliated with family office Patterson Thoma Investments. Transition Capital Partners was formed in 1993 and is based in Dallas, Texas.

DEAL STATS #
Overall 16 of 29
Sector (Healthcare Services) 8 of 10
Type (Add-on Acquisition) 1 of 8
State (Ohio) 2 of 2
Country (United States) 16 of 29
Year (2011) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-01 ProtectAll

Deerfield Beach, Florida, United States

ProtectAll is a provider of sleep products and furniture warranty services. ProtectAll Bedding Division manufactures and distributes mattress protection covers, mattress encasements, and other textiles under company and private label brands for major national retail and wholesale outlets. ProtectAll was founded in 1988 and is based in Deerfield Beach, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-01 La-tex Pump and Transportation

Homer, Iowa, United States

LA-tex Pump & Transportation LLC is a provider of housing accommodation systems and equipment rental services to the oil and gas drilling industry. La-tex Pump and Transportation is based in Homer, Iowa.

Buy -
SELLER

Progress Equity Partners

Dallas, Texas, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Progress Equity Partners is a private investment firm that seeks control positions in 'well-managed, entrepreneurial, service-based businesses.' Progress focuses on companies with sustainable/scalable business models and low capital expenditures. Specific areas of interest include building products/construction services, communication, marketing, facility maintenance services, franchising, manufacturing, retail, specialty food and healthcare services. Progress Equity Partners is based in Dallas, Texas.

DEAL STATS #
Overall 7 of 13
Sector (Healthcare Services) 3 of 3
Type (Add-on Acquisition) 2 of 6
State (Ohio) 2 of 2
Country (United States) 7 of 13
Year (2011) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-06 Conisus

Atlanta, Georgia, United States

Conisus provides scientific-oriented promotional marketing and education solutions to a diverse group of biopharmaceutical companies to assist in the promotion and education of oncology drugs and therapies. Conisus was formed in 2007 and is based in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-15 Diversified Machine Systems

Colorado Springs, Colorado, United States

Diversified Machine Systems LLC is a manufacturer of 3-axis and 5-axis CNC routers and machining centers. Located in Colorado Springs, CO, and serving customers worldwide, DMS supplies machines to a variety of manufacturing sectors including aerospace, automotive, marine, 3D sculpture, and formed plastics among many others. Diversified Machine Systems was founded in 2003 and is based in Colorado Springs, Colorado.

Buy -
SELLER

Evolve Capital

Dallas, Texas, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Evolve Capital is a private equity firm focused exclusively on recapitalization investments in growth-oriented service based businesses. Evolve looks companies that are asset light, growing rapidly, and potentially operate in a regulated environment. Target companies typically have trailing EBITDA of $2 to $4 million and are located in the US. Evolve Capital was formed in 2005 and is based in Dallas, Texas.

DEAL STATS #
Overall 7 of 18
Sector (Healthcare Services) 3 of 6
Type (Add-on Acquisition) 2 of 6
State (Ohio) 2 of 2
Country (United States) 7 of 18
Year (2011) 1 of 1
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-01 Doctor’s Choice Home Care

Sarasota, Florida, United States

Doctor’s Choice Home Care is a medicare certified home health agency. Doctor’s Choice Home Care was founded in 2007 and is based in Sarasota, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-05 Heartland Dental

Effingham, Illinois, United States

Heartland Dental is a dental support organization, providing non-clinical administrative support services to over 840 offices and more than 1,300 supported dentists across 35 states. Heartland Dental partners with its supported dentists to deliver high quality care across the full spectrum of dental services. Heartland Dental was founded in 1997 and is headquartered in Effingham, Illinois.

Buy -
SELLER

Harbert Private Capital

Birmingham, Alabama, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 4.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harbert Private Equity and Mezzanine is a private equity arm of Harbert Management Corp. The Private Equity group targets leveraged buyouts, recapitalizations, expansion capital investments, and distressed situations. The firm targets opportunities across a range of industries and typical transactions have enterprise values between A$10 and A$100 million. The Mezzanine Capital group seeks subordinated debt investments and can commit $3 to $15 million per transaction. . Harbert Management Corporation was formed in 1985 and has offices in Birmingham, Alabama; New York, New York; Nashville, Tennessee; Richmond, Virginia; London; Madrid; Paris; and Melbourne.

DEAL STATS #
Overall 7 of 43
Sector (Healthcare Services) 3 of 10
Type (Add-on Acquisition) 5 of 26
State (Ohio) 1 of 1
Country (United States) 7 of 42
Year (2011) 1 of 4
Size (of disclosed) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-23 Star Packaging

Atlanta, Georgia, United States

Star Packaging is a provider of flexographic printing, converting, and laminating for both the industrial and consumer packaging markets. Star Packaging is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-07 Pediatric Health Choice

Tampa, Florida, United States

Pediatric Health Choice is a provider of alternative-site healthcare services for medically-complex, technology-dependent, and behaviorally-challenged children. Pediatric Health Choice is based in Tampa, Florida.

Sell -
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