SAN FRANCISCO--(BUSINESS WIRE)-- Friedman Fleischer & Lowe (“FFL”) today announced that it has sold Guardian Home Care Holdings, Inc. ("Guardian" or "the Company"), a leading provider of home care and hospice services, to AccentCare Inc., one of the nation’s fastest growing home healthcare companies. Terms of the transaction were not disclosed.
FFL's initial investment in Guardian was in 2005. During its five-year ownership period, the company more than doubled in size through a combination of both internal growth and a successful add-on acquisition strategy. Internal growth was driven by strong organic growth trends, the development of new service lines (such as Hospice) and de novo office expansion within existing markets, whereas acquisitions allowed the Company to expand its geographic reach from Texas into both Tennessee and Georgia.
“We value our partnership with FFL which has been instrumental in helping us to provide our clients with high quality and cost-effective services,” said Judy Bishop, Chief Executive Officer of Guardian Home Care. “With the support of FFL’s expertise and guidance, we have significantly grown revenues and profitability over the past 5 years. Most importantly, we have been able to focus on providing compassionate, personalized care, and we look forward to continuing to serve our patients and their families as part of AccentCare.”
“We have greatly enjoyed working with the Guardian team,” said Rajat Duggal, Managing Director at FFL. “They are dedicated professionals committed to growing the business and creating value for their investors, while never wavering from the objective of providing patients with the highest quality care. Judy Bishop, in particular, has demonstrated exceptional leadership skills and remains a key reason for the performance of the Company and the success of our investment.”
Guardian Home Care Holdings
Guardian Home Care is a leading provider of comprehensive home health services to private individuals, case managers, physicians, nursing homes, hospitals, insurance companies and health maintenance organizations. The Company was founded in 1969 and currently employs nearly 9,000 full and part-time employees in approximately 45 offices in Texas, Georgia and Tennessee.
Friedman Fleischer & Lowe
Friedman Fleischer & Lowe, LLC is a San Francisco-based private equity firm with approximately $2.5 billion under management that is focused on investing in U.S. middle-market companies. Formed in 1998, FFL’s strategy is to invest in market-leading companies that generate high returns on invested capital and that have strong, defensible competitive positions, attractive growth prospects and outstanding management. Representative investments include: Tempur-Pedic International, Discovery Foods, Milestone AV Technologies, CapitalSource, Korn/Ferry International and GeoVera Insurance Group. For more information on Friedman Fleischer & Lowe, visit www.fflpartners.com.
CONTACT:
Friedman Fleischer & Lowe:
Rajat Duggal, 415-402-2119
Managing Director
KEYWORDS: United States North America California
INDUSTRY KEYWORDS: Seniors Health Hospitals Professional Services Banking Finance Consumer Nursing Managed Care
MEDIA: