Boyne Capital buys AmeriBest

Boyne Capital Partners has acquired AmeriBest Home Care, a home care company serving the senior and disabled communities in Pennsylvania. No financial terms were disclosed.

PRESS RELEASE

MIAMI–(BUSINESS WIRE)–Boyne Capital Partners (“Boyne” or the “Firm”) announces that it has partnered with management to acquire AmeriBest Home Care, Inc. (“AmeriBest” or the “Company”), a homecare company serving the senior and disabled communities throughout Pennsylvania. Omar Khanataev, CEO, will continue to lead the Company’s daily operations. The AmeriBest transaction represents the most recent platform investment in BCM Fund I (“Fund”). Boyne Capital is dedicated to investing in the lower middle market sector, specifically companies with revenues of less than $100 mm and with EBITDA of $2 mm to $10 mm.

According to the Boyne Managing Partner, Derek McDowell, “We are very pleased to partner with Omar Khanataev and the team at AmeriBest to support their continued growth. Our investment in AmeriBest follows our thesis that healthcare delivery will continue to migrate to a home setting. With continued financial pressures at the federal, state, and local levels, we see long-term value in organizations, like AmeriBest, that partner with managed-care systems and local agencies to ensure low-cost, quality care to the communities they serve.”

Based in Philadelphia, AmeriBest is a Medicare-certified home health agency and leading provider of personal care services in Pennsylvania. The Company primarily focuses on Home and Community Based Service (HCBS) Waiver programs which allow disabled and elderly patients to remain in their homes and avoid higher cost institutional facilities.

Boyne Capital Partners is a Florida-based private equity firm focused on investments in lower middle market companies. Founded in 2006, Boyne has successfully invested in a broad range of industries, including healthcare services, agriculture, consumer products, niche manufacturing, and business & financial services among others. Beyond financial resources, Boyne provides industry and operational expertise to its portfolio companies and partners with management to drive company performance and growth. We specialize in providing the capital necessary to fund corporate growth and to facilitate owners’ and shareholders’ partial or full exit; approximately 50% of our transactions have been recapitalizations of owner operated businesses with the remainder being corporate divestitures, restructurings or special situation opportunities. For more information, visit www.boynecapital.com.