Reliant at Home Inc, which is backed by Merit Capital, has acquired Fort Worth, Texas-based Bridgeway Health Services, a home healthcare provider. No financial terms were disclosed.
Merit Capital’s Fund VI portfolio company, Reliant at Home, Inc. (“Reliant” or the “Company”), recently completed the acquisition of Bridgeway Health Services (“Bridgeway”).
Reliant, headquartered in Allen, Texas, is a home healthcare agency and hospice care provider offering a variety of in-home services ranging from technical care to occupational therapy and medically necessary personal assistance, as well as end-of-life care. Reliant was founded in 2004, and currently serves patients throughout the Dallas and Fort Worth metroplex (“DFW”) and the greater Houston area. Merit partnered with Broadgate Capital, a Dallas-based independent sponsor, to acquire Reliant in 2017.
Bridgeway, headquartered in Fort Worth, Texas, is a home healthcare provider operating throughout DFW with a focus on the greater Fort Worth area. Bridgeway provides an exciting opportunity to expand Reliant’s hospice division into the Bridgeway footprint and establish a strong presence in the Fort Worth market.
Ben Yarbrough, a Managing Director at Merit, said, “Bridgeway represents the third add-on acquisition to the Reliant platform, and we remain excited to grow Reliant organically and through acquisition with Broadgate’s strong support. We believe the acquisition of Bridgeway fits well with the long-term strategy at Reliant and strengthens Reliant’s position as a leading provider of home health and hospice services in the Texas market.”
Merit provided subordinated debt and equity in support of the initial acquisition of Reliant, and invested additional subordinated debt to help facilitate the acquisition of Bridgeway. Please contact Ben Yarbrough or Dan Pansing for more details.
ABOUT MERIT CAPITAL PARTNERS
Since 1993, Merit Capital Partners has raised over $2.2 billion of capital through six institutionally sponsored limited partnerships. Merit invests both equity and subordinated debt in each transaction to support management buyouts, recapitalizations, acquisition financings and other shareholder liquidity events. Merit seeks to partner with business owners, management teams and independent sponsors, underwriting both control and non-control ownership transactions.
Merit continues to pursue investments in high-quality, established businesses with carefully conceived operating strategies across the manufacturing, distribution and services industries. Merit targets new platform investments between $15 million and $60 million, focusing on companies with EBITDA over $4 million (all sizes considered for portfolio add-on investments). For more information on Merit Capital Partners, please visit www.meritcapital.com.