RICHMOND, Va.--(BUSINESS WIRE)-- Harris Williams & Co. announces the sale of Guardian Home Care Holdings, Inc. (Guardian), a portfolio company of Friedman, Fleischer & Lowe (FFL), to strategic buyer AccentCare Inc. (AccentCare), a portfolio company of Oak Hill Capital Partners (Oak Hill Capital). The transaction closed on December 22, 2010. Harris Williams & Co. was an advisor to Guardian. The transaction was executed by Turner Bredrup, James Clark, Geoff Smith and Dusty Lieb from the firm’s Healthcare & Life Sciences Group.
“The combination of Guardian and AccentCare creates a premier national home healthcare company with scale across a continuum of care that includes attendant care, skilled nursing, and hospice services,” stated Turner Bredrup, a managing director and head of Harris Williams & Co.’s Healthcare & Life Sciences Group. “Guardian and AccentCare's respective management teams have built companies that are clinical care leaders in the communities they serve, and the combined management team will continue this legacy of leadership as it adds to its base of over 130 offices in 10 states across the U.S.”
Guardian is a leading home healthcare and hospice services provider with offices in TX, GA and TN. Doing business as Texas Home Health, the company provides skilled nursing and attendant care services to patients in TX, primarily under Medicare and Medicaid funding programs. Doing business as Guardian Home Care, the company provides skilled nursing services to patients in GA and TN, both Certificate of Need (CON) states, primarily under Medicare. Guardian provides hospice services in TX and TN through Texas Home Health Hospice and Guardian Hospice, respectively.
FFL 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.
AccentCare, headquartered in Irvine, CA, is one of the nation’s leaders in homecare services and a trusted companion in providing a wide range of quality in-home care options to enable its clients and patients to live at home independently.
Oak Hill Capital is a private equity firm with more than $8.2 billion of committed capital from leading entrepreneurs, endowments, foundations, corporations, pension funds and global financial institutions. Over a period of more than 24 years, the professionals at Oak Hill and its predecessors have invested in more than 60 significant private equity transactions.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is the premier middle market advisor with a two-decade legacy of sell side excellence serving clients worldwide. The firm is focused exclusively on the middle market providing sell side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services. The firm’s Healthcare & Life Sciences Group focuses on transactions across the spectrum of healthcare market segments. For more information, contact Turner Bredrup in Richmond at +1 (804) 648-0072 or Todd Morris in San Francisco at +1 (415) 288-4260.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, an Appointed Representative of Sturgeon Ventures LLP, which is authorized and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business in the U.S. and Europe, respectively.
For general release inquiries, please contact Kimberly Baker, marketing director, at +1 (804) 648-0072.
Harris Williams & Co.
Kimberly Baker, marketing director, +1 804-648-0072
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