Home care M&A experts knew that the dealmaking dominoes would start to tumble in 2021, pushed over by the recent agreement between Senior Helper and Advocate Aurora Enterprises. They didn’t know how fast that chain reaction would be, however.
On Thursday, H.H. Franchising Systems Inc. — the Cincinnati-based company that operates Home Helpers Home Care — announced it had been acquired by Chicago-based private equity firm RiverGlade Capital. Financial terms of the transaction were not disclosed.
Founded in 1997, Home Helpers operates throughout more than 1,000 communities across the U.S. The home care franchiser led by President and CEO Emma Dickison has more than 320 franchise territories operating in 41 states.
“With its strong performance in the home care market and talented leadership team and staff, we saw an opportunity in Home Helpers Home Care in which our investment could continue to fuel growth,” Danny Rosenberg, managing partner at RiverGlade, said in a statement. “We recognize the great company that has been built at Home Helpers Home Care and look forward to working with Emma and team.”
Home Helpers was previously owned by Cleveland-based PE firm Linsalata Capital Partners, which acquired the home care business in 2016. Over that time, Home Helpers has grown by about 15% on a year-over-year basis, propelled by investments in technology, recruitment and more.
Following the RiverGlade Capital acquisition, H.H. Franchising will maintain its current leadership team, national support staff and franchise system. The company will likewise keep its Cincinnati headquarters.
On its end, RiverGlade Capital is a health care services-focused private equity firm with a differentiated investment thesis.
Home Helpers will be the firm’s only active home care investment, with other current portfolio companies including care management solutions company Longhorn Health Solutions and Dynamic Infusion Therapy. Past investments include behavioral health provider Foundations Recovery Network and emergency room network Adeptus Health.
This is a developing story. Please check back later for additional information.