One of the largest franchisers of in-home senior care has a new owner. Private equity firm Linsalata Capital Partners has purchased H.H. Franchising Systems, Inc., which operates Home Helpers.
Financial terms of the deal were not disclosed.
Livingstone, a Chicago-based international mid-market M&A and debt advisory firm, advised Cincinnati-based Home Helpers on the sale.
Home Helpers provides non-medical companion and personal care to more than 600 communities across 42 states. The company has more than 265 offices operating in 340 franchise territories.
“Home Helpers has experienced tremendous growth over the past several years and our strategy is to accelerate that pace,” said Emma Dickison, who was recently named Home Helpers’ president and CEO. “LinCap gives us access to the resources to make our vision for the company a reality by investing in our two greatest strategic advantages: our brand and our system.”
As part of the transaction, H.H. Franchising will keep its existing headquarters in Cincinnati, and Dickison and her management team will stay with the company. Home Helpers founder Gary Green served as the company’s CEO up until Linsalata’s acquisition.
“The strong interest we received in Home Helpers demonstrates the attractiveness of the non-medical segment of home health, including robust demand driven by the aging U.S. population, minimal regulatory environment, and private pay dynamics that eliminate government reimbursement risk,” Jim Moskal, a Livingstone partner and head of the company’s health care practice, said in a prepared statement.
“We anticipate home health M&A activity to remain strong in 2016 as industry dynamics and the scarcity of high-quality assets keep valuations high,” he added.
Linsalata Capital Partners is a private equity firm based in Mayfield Heights, Ohio.
Written by Mary Kate Nelson