Northleaf Capital Partners has made an undisclosed investment in Lifemark Health Group, a Toronto-based provider of physiotherapy, medical assessments and home care services.
The deal will support Lifemark’s acquisition-led growth strategy and help build the company as a “national leader in the Canadian physiotherapy market,” Northleaf Managing Director Matt Shafer said.
Lifemark is a portfolio company of Audax Private Equity, the mid-market investment arm of U.S.-based Audax Group.
Audax acquired the business two years ago from Centric Health Corp for $250 million.
Based in Toronto, Northleaf is a private equity, infrastructure and private credit investment firm.
Northleaf announces investment in Lifemark Health Group
TORONTO (October 10, 2018) – Northleaf Capital Partners (Northleaf) today announced that it has made a growth capital investment in Lifemark Health Group (Lifemark), a portfolio company of Audax Private Equity (Audax). Lifemark, headquartered in Toronto, is a leading provider of physiotherapy, independent medical assessments and homecare services across Canada. Northleaf’s investment will be used to support Lifemark’s acquisition-oriented growth strategy.
“Northleaf’s flexible and commercial approach allowed us to complete an important financial and strategic transaction quickly,” said Mark Cordes, Managing Director at Audax. “We are glad to have them as a capital partner to support Lifemark’s development.”
“We are excited to partner with Lifemark and Audax to support their successful acquisition strategy and help build a national leader in the Canadian physiotherapy market,” said Matt Shafer, Managing Director at Northleaf. “This transaction demonstrates Northleaf’s ability to provide flexible, growth-enabling capital in partnership with middle market financial sponsors.”
About Northleaf Capital Partners
Northleaf Capital Partners is an independent global private markets fund manager with more than US$11 billion in private equity, private credit and infrastructure commitments under management on behalf of public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices. Northleaf’s 110-person team, located in Toronto, Montreal, London, New York, Chicago, Menlo Park and Melbourne, is focused exclusively on sourcing, evaluating and managing private markets investments globally. Northleaf’s portfolio includes more than 250 active investments in 14 countries, with a focus on mid-market companies and assets. For more information on Northleaf, please visit www.northleafcapital.com.
About Lifemark Health Group
Lifemark Health Group is a diversified healthcare company in business since 1998 and has grown by acquisition over the past 20 years to include over 200 facilities across Canada. Lifemark has facilities in eight provinces providing community rehabilitation services, medical assessments and workplace health & wellness services. Since its inception, the company has focused on bringing together the top medical and rehabilitation practitioners to deliver the highest quality health care to clients. Through all of its divisions, Lifemark represents a consolidation of 3,500 clinical practitioners and client service support staff.
About Audax Private Equity
Audax Private Equity has been focused on building leading middle market companies since its founding in 1999. Audax has invested $5 billion in 117 platform and 706 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. Audax Group is an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and San Francisco, Audax Group has $13 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses. For more information, visit the Audax Group website www.audaxgroup.com.
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