M&A Deal Summary

Levine Leichtman Capital Partners and Apogem Capital Acquire Synergy HomeCare

On January 21, 2025, mezzanine finance firm Levine Leichtman Capital Partners and asset manager Apogem Capital acquired franchising company Synergy HomeCare from NexPhase Capital

Acquisition Highlights
  • This is Levine Leichtman Capital Partners’ 6th and Apogem Capital’s 1st transaction in the Franchising sector.
  • This is Levine Leichtman Capital Partners’ 72nd and Apogem Capital’s 70th transaction in the United States.
  • This is Levine Leichtman Capital Partners’ 1st and Apogem Capital’s 1st transaction in Arizona.

M&A Deal Summary

Date 2025-01-21
Target Synergy HomeCare
Sector Franchising
Buyer(s) Levine Leichtman Capital Partners
Apogem Capital
Sellers(s) NexPhase Capital
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey
Baird (Financial)

Target

Synergy HomeCare

Tempe, Arizona, United States
Synergy HomeCare provides in-home care services to seniors and individuals of all ages. With over 240 franchises operating in approximately 550 territories across 42 states, the company offers a broad range of non-medical in-home services, including personal care, companion care, memory care, and specialized care for individuals living with physical or developmental disabilities, chronic health conditions, or recovering from illness or surgery. Synergy HomeCare was founded in 1999 and is headquartered in Tempe, Arizona.

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Buyer(S) 2

Buyer

Levine Leichtman Capital Partners

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1984
PE ASSETS 12.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Levine Leichtman Capital Partners (LLCP) is a West Coast US based private investment firm that targets mezzanine and other structured equity investments in middle-market companies. The Firm has several funds, each with different strategies. LLCP's larger fund targets subordinated debt, preferred equity, and/or common equity investments in companies with $100 to $750 million of revenue. The Firm's smaller fund invests $5 to $15 million in emerging companies with less than $25 million in revenue. LLCP also invests in financially distressed businesses. LLCP was formed in 1984 and has offices in Beverly Hills, California; Chicago, Illinois; Dallas, Texas; New York City; and London.


DEAL STATS #
Overall 89 of 92
Sector: Franchising M&A 6 of 7
Type: Secondary Buyout M&A Deals 34 of 37
State: Arizona M&A 1 of 1
Country: United States M&A 72 of 74
Year: 2025 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-24 Schuelerhilfe

Gelsenkirchen, Germany

Schuelerhilfe is an operator and franchisor of site-based and online tutoring in the DACH region. The Company offers tutoring services focused on improving students' academic outcomes and progression, along with an expanding adult education offering. It offers tailored and focused, small-group and one-on-one tutoring sessions held both in-person and online. Schuelerhilfe was formed in 1974 and is based in Gelsenkirchen, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-23 All4

Kimberton, Pennsylvania, United States

ALL4 provides regulatory-driven environmental, health & safety (“EH&S”) consulting services. The Company offers a comprehensive suite of services including air quality, EH&S, digital solutions, and sustainability consulting that address clients’ mission-critical needs. Founded in 2002, ALL4 is headquartered in Kimberton, Pennsylvania and operates from 12 offices worldwide, with a national office footprint across the U.S. and an international presence in Europe and Latin America.

Buy -
Buyer

Apogem Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2001
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.


DEAL STATS #
Overall 70 of 70
Sector: Franchising M&A 1 of 1
Type: Secondary Buyout M&A Deals 25 of 25
State: Arizona M&A 1 of 1
Country: United States M&A 70 of 70
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-15 DirectMed Imaging

Poway, California, United States

DirectMed Imaging is a provider of medical imaging aftermarket parts, systems, and field service solutions. DirectMed Imaging was founded in 2011 and is based in Poway, California.

Sell -

Seller(S) 1

SELLER

NexPhase Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Moelis Capital Partners (MCP) is the private equity investment arm of investment bank Moelis & Company. MCP targets growth equity and control buyouts requiring equity investments of $25 to $75 million. Moelis has particular interest in the business services, consumer and retail, financial services, healthcare services, industrial and telecom industries. Moelis Capital Partners was formed in 2007 and is based in New York City.


DEAL STATS #
Overall 23 of 24
Sector: Franchising M&A 1 of 1
Type: Secondary Buyout M&A Deals 11 of 11
State: Arizona M&A 1 of 1
Country: United States M&A 22 of 23
Year: 2025 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-06 Insurance Systems

Etobicoke, Ontario, Canada

Insurance Systems provides enterprise software solutions to the property and casualty insurance industry. The Company's flagship product, ISI Enterprise, allows insurance carriers to manage the full policy lifecycle, including policy administration, claims, billing, accounting, and reinsurance. Insurance Systems was formed in 1997 and is based in Etobicoke, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-05 Behavior Frontiers

El Segundo, California, United States

Behavior Frontiers is a provider of Autism ABA Treatment, that offers solutions to help individuals with autism and other special needs reach their potential using our state-of-the-art applied behavior analysis (ABA) treatment programs. Behavior Frontiers was founded in 2004 and is based in El Segundo, California.

Buy -