The Riverside Company has made an undisclosed investment in ComforCare Health Care Holdings LLC. Jones Day provided legal counsel on the transaction while Saratoga Investment Corp. provided financing and West Monroe provided IT diligence. Based in Bloomfield Hills, Michigan, ComForCare is a home care service franchisor.
The Riverside Company has invested in Bloomfield Hills, Michigan based ComForCare Health Care Holdings, LLC (ComForCare), the franchisor of ComForCare Home Care and At Your Side Home Care home care agencies.
With 196 locations in 34 states and three Canadian provinces, ComForCare franchisees provide non-medical and private duty nursing services to the elderly, physically handicapped, and injured all in the comfort of their homes. They also offer supplemental staffing services to healthcare facilities.
“ComForCare provides tremendous value for its customers,” said Riverside Managing Partner Loren Schlachet. “Home care allows seniors and others with limited mobility to stay in their homes, which is both more affordable and more pleasant than living in care facilities. We are confident ComForCare can reach even more customers as they learn of its broad and compelling services.”
ComForCare has grown steadily and has considerable opportunity to expand both in new markets and by deepening its penetration of existing markets. Riverside will invest in sales and marketing, pursue strategic add-ons, and continue developing new services to accelerate growth.
“We anticipate significant growth across the home care space in coming years, and ComForCare is an elite provider of these vital services that should outperform the overall market,” said Riveside Partner Brian Sauer. “The company provides excellent support to its franchisees and delivers on its promises to customers.”
Riverside has extensive experience in franchising as well as healthcare, which should help propel ComForCare during Riverside’s investment period.
The firm’s expertise in these spaces helped secure the deal.
“This is a great example of thesis-driven origination. The deal team’s investment thesis, paired with the research and analysis by Associate Josh Smith, put us in position to secure this opportunity,” said Origination Principal Jeremy Holland.
Working with Schlachet, Sauer, Holland and Smith on the deal for Riverside were Principal Stephen Rice and Operating Partner John Kish. Principal Dan Haynes helped secure financing for the deal.
Jones Day provided legal counsel on the deal. Saratoga Investment Corp. provided financing, and West Monroe provided IT diligence.
About The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring and investing in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 470 transactions. The firm’s international portfolio includes more than 80 companies.