M&A Deal Summary

Waud Capital Partners, Bow River Capital and Comvest Partners Acquire Senior Helpers

On March 21, 2024, private equity firms Waud Capital Partners, Bow River Capital and Comvest Partners acquired consumer services company Senior Helpers from Advocate Aurora Health

Acquisition Highlights
  • This is Waud Capital Partners’ 4th, Bow River Capital’s 2nd and Comvest Partners’ 2nd transaction in the Consumer Services sector.
  • This is Waud Capital Partners’ 46th, Bow River Capital’s 25th and Comvest Partners’ 57th transaction in the United States.
  • This is Waud Capital Partners’ 3rd, Bow River Capital’s 1st and Comvest Partners’ 2nd transaction in Maryland.

M&A Deal Summary

Date 2024-03-21
Target Senior Helpers
Sector Consumer Services
Buyer(s) Waud Capital Partners
Bow River Capital
Comvest Partners
Sellers(s) Advocate Aurora Health
Deal Type Divestiture
Advisor(s) Livingstone Partners LLP (Financial)

Target

Senior Helpers

Towson, Maryland, United States
Senior Helpers is a franchisor of private pay, professional home care for elderly individuals, with approximately 285 active territories across 39 states. The Company provides specialized programs that have been developed in collaboration with medical experts and offers specialized care services for individuals with Alzheimer's, dementia, and Parkinson's. Senior Helpers was formed in 2002 and is based in Towson, Maryland.

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Buyer(S) 3

Buyer

Waud Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 3.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Waud Capital Partners is a private equity firm that pursues investments in mid-sized manufacturing, distribution and service companies. Waud looks for businesses with proven management, operating in well defined markets, and that demonstrate strong growth potential. The Firm typically invests $75 to $200 million. Specific areas of interest include adhesives, air/water treatment, alarm monitoring, auto components, coatings, consumer products, home healthcare services, hospitals, lighting, litigation support, medical distribution, petroleum distribution, pharmaceuticals, publishing, sealants, specialty hospitals, and tax consultants. Prospective transaction situations include buyouts, recapitalizations and industry consolidations. Waud Capital Partners was established in 1993 and is based in Chicago, Illinois.


DEAL STATS #
Overall 47 of 48
Sector (Consumer Services) 4 of 4
Type (Divestiture) 1 of 1
State (Maryland) 3 of 3
Country (United States) 46 of 47
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-26 PSI

Olathe, Kansas, United States

PSI focuses on delivering frictionless and fair test-taker experiences through valid test content, authorized test centers, secure remote testing with online proctoring, multi-modal test delivery, testing windows, or continuous testing on demand. It partners with certification test sponsors covering the breadth of professional specialisms from healthcare, architecture, finance, and IT to numerous highly specialized sectors. PSI is based in Olathe, Kansas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-30 Science Exchange

San Francisco, California, United States

Science Exchange is a first procurement and supplier orchestration cloud software platform for life sciences companies. The platform digitizes and streamlines complex procurement workflows spanning the entire purchasing lifecycle, from vendor and product discovery through purchasing and payment. Science Exchange was founded in 2011 an is based in San Francisco, California.

Buy -
Buyer

Bow River Capital

Denver, Colorado, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Bow River Capital is a private equity firm that provides equity capital and mezzanine debt to high growth companies. The Firm targets businesses generating sales of $25 and $200 million and EBITDA of $5 to $20 million. Bow River will consider investments throughout the US and Canada, however, the Firm's primary focus is on opportunities in the Rocky Mountain and Western regions of the US and Canada. Target industries include manufacturing, distribution, transportation, business and consumer services, financial services, natural resources and real estate. The Firm will consider both control and minority positions. Bow River Capital was established in 2003 and is based in Denver, Colorado.


DEAL STATS #
Overall 28 of 28
Sector (Consumer Services) 2 of 2
Type (Divestiture) 2 of 2
State (Maryland) 1 of 1
Country (United States) 25 of 25
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-11 Xyleme

Denver, Colorado, United States

Xyleme is a cloud-based provider for learning content management and creation platform specifically built to transfer institutional knowledge faster. Xyleme was founded in 2004 and is based in Denver, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-18 AbsenceSoft

Golden, Colorado, United States

AbsenceSoft is a cloud-based Total Absence Management platform that delivers modern, easy-to-use, and flexible software to manage FMLA, ADA, Disability, and other forms of leave efficiently and cost-effectively. AbsenceSoft was founded in 2013 and is based in Golden, Colorado.

Sell -
Buyer

Comvest Partners

West Palm Beach, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Comvest Partners' headquarters in West Palm Beach, Florida.
Comvest Partners' headquarters in West Palm Beach, Florida.

Comvest Partners is a private investment firm that provides equity and debt capital to middle-market companies across North America. Comvest funds a variety of investment situations, including buyouts, divestitures, recapitalizations, consolidations, take privates, and turnarounds. Sectors of interest include business services, information services, education, financial services, healthcare services, software, IT, and transportation. For equity investments, Comvest prefers control and looks to invest $50 to $150 million per transaction. For debt needs, Comvest seeks to provide $25 to $250 million per transaction. Comvest Partners was formed in 2000 and is based in West Palm Beach, Florida.


DEAL STATS #
Overall 58 of 60
Sector (Consumer Services) 2 of 2
Type (Divestiture) 6 of 7
State (Maryland) 2 of 2
Country (United States) 57 of 59
Year (2024) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-30 Systems Control

Iron Mountain, Michigan, United States

Systems Control provides engineering and manufacturing of equipment enclosures and control and relay panels used in electrical transmission and distribution substations across North America. Systems Control was founded in 1962 and is based in Iron Mountain, Michigan.

Sell $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-15 TFS

Perrysburg, Ohio, United States

TFS optimizes material handling equipment fleets by providing turnkey fleet management services for Fortune 1000 companies and large manufacturing & distribution companies throughout North America. The company's analysts utilize a centralized, streamlined fleet management model to consistently generate significant improvements and cost savings across the full life cycle of the fleets they manage. TFS is based in Perrysburg, Ohio.

Buy -

Seller(S) 1

SELLER

Advocate Aurora Health

Illinois, United States

Category Company
Sector Healthcare Services
DESCRIPTION

Advocate Aurora Health with its subsidiary Advocate Aurora Enterprises is a not-for-profit, integrated health system in the nation. It is responsible for advancing the system's purpose of helping people live well through a commitment to Whole Person Health. Its three focus areas include: Aging Independently, enabling aging seniors to thrive safely and comfortably in their homes; Parenthood, supporting parents in raising healthy and happy kids with less stress and greater confidence; and Personal Performance, helping people to achieve their mind, body and nutrition goals.


DEAL STATS #
Overall 1 of 1
Sector (Consumer Services) 1 of 1
Type (Divestiture) 1 of 1
State (Maryland) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-19 Cornerstone Treatment Facilities Network

Fresh Meadows, New York, United States

Cornerstone Treatment Facilities Network is a provider of medically supervised inpatient withdrawal and stabilization services as well as medically supervised inpatient rehabilitation services. Cornerstone Treatment Facilities Network was founded in 1936 and is based in Fresh Meadows, New York.

Buy -