Caring Brands, which is backed by Levine Leichtman Capital Partners, has acquired its Interim HealthCare home health and hospice franchises in San Diego. No financial terms were disclosed.
LOS ANGELES, Jan. 21, 2021 /PRNewswire/ — Caring Brands International (“CBI”), a portfolio company of Levine Leichtman Capital Partners (“LLCP”), announced today that it has completed the acquisition of its Interim HealthCare home health and hospice franchises in San Diego (the “San Diego Franchise”). The addition of the San Diego Franchise expands CBI’s branch footprint and marks the first acquisition within the Interim HealthCare network domestically.
The acquisition of the San Diego Franchise is the third completed by CBI in the last six months, continuing the Company’s strong momentum:
– In June 2020, CBI acquired its Bluebird Care Master Franchise in the Republic of Ireland, adding direct franchising rights in the Republic of Ireland and 26 franchise locations operating under CBI’s UK brand, Bluebird Care.
– In November 2020, CBI acquired the Northern Suburbs of Sydney franchise operation of Just Better Care, CBI’s Australian brand.
Founded in 1966, CBI is the largest franchisor of home healthcare services globally and produces approximately $1.1 billion of annual systemwide sales across over 550 global locations. CBI offers franchises under three brands: Interim HealthCare (United States), Bluebird Care (United Kingdom and Republic of Ireland) and Just Better Care (Australia). CBI’s branches and franchisees offer individuals a full continuum of care at home including skilled nursing, assistance with daily living activities and end-of-life hospice care.
Jennifer Sheets, CEO and President of CBI, commented on the most recent acquisition, “We are delighted to add the exceptional operations of the San Diego Franchises to our branch portfolio and look forward to driving the highest level of quality and satisfaction for our patients.”
Matthew Frankel, Managing Partner of LLCP, stated, “The three recent acquisitions demonstrate our continued support of the CBI investment and reflects the Company’s significant growth potential. We remain focused on building value for the benefit of CBI’s franchise owners, patients, employees and investors.”
CBI is a portfolio company of Levine Leichtman Capital Partners Fund V, L.P.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 37-year track record of investing across various targeted sectors, including franchising, professional services, education and engineered products. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. This unique structure provides a less dilutive solution for management teams and entrepreneurs, while delivering growth and income with a significantly lower risk profile.
LLCP’s global team of dedicated investment professionals is led by seven partners who have worked at LLCP for an average of 21 years. Since inception, LLCP has managed approximately $11.2 billion of institutional capital across 14 investment funds and has invested in over 90 portfolio companies. LLCP currently manages approximately $7.3 billion of assets – including its most recent flagship fund, Levine Leichtman Capital Partners VI, L.P., which closed in 2018 with $2.5 billion of committed capital – and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm and The Hague.