M&A Deal Summary

Ivy Rehab Acquires Theraplay

On July 26, 2022, Ivy Rehab acquired healthcare services company Theraplay from Starboard Capital Partners and DFW Capital Partners

Acquisition Highlights
  • This is Ivy Rehab’s 1st transaction in the Healthcare Services sector.
  • This is Ivy Rehab’s 1st transaction in the United States.
  • This is Ivy Rehab’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2022-07-26
Target Theraplay
Sector Healthcare Services
Buyer(s) Ivy Rehab
Sellers(s) Starboard Capital Partners
DFW Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Edgemont Capital Partners LP (Financial)

Target

Theraplay

West Chester, Pennsylvania, United States
Theraplay is a provider of physical, occupational, speech, and feeding therapy services, treating children from birth through age 21. Theraplay was established in 1991 and is based in West Chester, Pennsylvania.

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Buyer(S) 1

Buyer

Ivy Rehab

White Plains, New York, United States

Category Company
Founded 2003
Sector Information Technology
DESCRIPTION

Ivy Rehab is a provider of management support services to a network of 45 outpatient physical therapy centers, consisting of 43 owned and two managed centers. The Company provides a comprehensive offering of physical therapy services through its clinics in the Northeast and Midwest regions of the United States. Ivy Rehab was founded in 2003 and is based in White Plains, New York.


DEAL STATS #
Overall 1 of 2
Sector (Healthcare Services) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Pennsylvania) 1 of 1
Country (United States) 1 of 2
Year (2022) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-16 AmeriCare Physical Therapy

Mountainside, New Jersey, United States

AmeriCare Physical Therapy is an outpatient physical therapy rehabilitation center. From injury recovery to chronic pain management and athletic performance enhancement, AmeriCare’s team is dedicated to empowering patients to reach their fullest potential. AmeriCare Physical Therapy was founded in 2006 and is based in Mountainside, New Jersey.

Buy -

Seller(S) 2

SELLER

Starboard Capital Partners

Southport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Starboard Capital Partners LLC is an unsponsored investment group that works with private equity investors and management in acquiring mid-sized businesses valued between $25 and $100 million. In addition to investing, Starboard earns equity for initiating transactions and for ongoing advisory services. Sectors of interest include automotive, consumer products, building materials, construction, distribution, e-commerce, franchising, manufacturing, healthcare, and real estate. Starboard Capital was formed in 2004 and is based in Southport, Connecticut.


DEAL STATS #
Overall 10 of 10
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 7 of 7
State (Pennsylvania) 1 of 1
Country (United States) 10 of 10
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-02 QDiscovery

New London, Connecticut, United States

QDiscovery LLC is a premier provider of electronic discovery and digital forensic services across the entire EDRM spectrum. QDiscovery LLC dedicated team of eDiscovery professionals, forensic experts, and litigation support specialists serves corporations, law firms, and government enterprises, helping them manage complex matters and reduce the expense of litigation. QDiscovery LLC single-source platforms allow clients to process and review faster, leverage advanced analytics, streamline workflows and automate complex productions, ultimately translating to lower costs.

Sell -
SELLER

DFW Capital Partners

New York, New Jersey, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DFW Capital Partners is a private equity firm that invests in high-growth middle-market service companies generating revenues up to $200 million. Specific service areas of interest include business services, industrial services, and healthcare services. Prospective transactions include growth capital financing, acquisition financing, management buyouts, and recapitalization. DFW will not invest in start-ups, real estate, or pure R&D companies. DFW Capital Partners was formed in 1983 and is based in Teaneck, New Jersey.


DEAL STATS #
Overall 25 of 26
Sector (Healthcare Services) 7 of 7
Type (Add-on Acquisition) 12 of 13
State (Pennsylvania) 5 of 5
Country (United States) 25 of 26
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-12 Children s Dental Management

West Chester, Pennsylvania, United States

Children's Dental Management is a provider of quality pediatric dental care to the community for more than 40 years. With more than 20 practices and pediatric dentists located throughout the state of Pennsylvania, Children's Dental Management allows for convenient access to dental care that is engaging, fun, and educational for patients.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-31 Hippo Veterinary Group

Scottsdale, Arizona, United States

Hippo Veterinary Group is a provider of veterinary services that focuses on emergency, urgent care, general practice, advanced surgery, dentistry, and specialty medicine. Hippo Veterinary Group was founded in 2021 and is based in Scottsdale, Arizona.

Buy -