Life Care Companies LLC, a Des Moins, Iowa-based provider of services to senior living communities, has raised $50 million in new funding led by McCarthy Capital Corp.
McCarthy Capital Corporation recently led a $50 million investment in a privately-held company, Life Care Companies LLC. Headquartered in Des Moines, Iowa, the company does business as Life Care Services (LCS) and is a national leader in providing services to senior living communities.
LCS has nearly 40 years of experience in developing, managing and owning senior living communities throughout the United States. A fully integrated manager, marketer, developer, and owner of senior living communities, LCS today serves more than 27,000 residents in 29 states and the District of Columbia and is recognized as the nation’s sixth-largest manager of senior housing. The company operates six business lines focusing on operations management, home health care, development, community ownership, insurance and national procurement (group purchasing).
“We selected McCarthy Capital as our partner because of their experience, cultural compatibility, and partnership approach with their investments,” said Ed Kenny, President and CEO of LCS. “In addition to providing us with growth capital to execute on current opportunities, we are excited about the expertise McCarthy Capital will bring to our employee-owned company.”
The investment in LCS is consistent with McCarthy Capital’s investment strategy – partnering with proven management teams at market leading companies in growth industries. “We are excited to partner with the exceptional management team at LCS in this well-positioned business,” said Patrick Duffy, a partner at McCarthy Capital. “We believe LCS’s people and diverse service offerings provide a solid foundation from which the company can capture a larger share of this fast-growing market.”
About McCarthy Capital
Based in Omaha, NE with offices in Denver and Boston, McCarthy Capital manages $500 million in private equity assets and capital commitments. For more information about McCarthy Capital, please visit mccarthycapital.com.