Addus Healthcare, Inc. Completes a Recapitalization Transaction.PALATINE Palatine, hill, Rome Palatine, hill: see Rome before Augustus and Roman Empire under Rome. Palatine, village, United States Palatine (păl`ətīn), village (1990 pop. , Ill. -- Addus Healthcare, Inc., a national provider of skilled and non-skilled home health services health services Managed care The benefits covered under a health contract , today announced it has completed a recapitalization Recapitalization Restructuring a company's debt and equity mixture often with the aim of making a company's capital structure more stable. Notes: Companies often want to diversify their debt-to-equity ratio to improve liquidity. which will enable the company to significantly expand over the next decade. Addus has partnered with Eos Partners, a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of based private investment firm, to position the company for continued growth. Through this recapitalization, Addus will be better able to take advantage of the significant growth opportunities that lie ahead in the home health sector. "Our mission is to improve the health and well being of our consumers through the provision of quality, cost effective health care services. Our partnership with Eos will strengthen our ability to accomplish our goals by fostering an environment of growth," stated W. Andrew Wright Andrew Wright (born September 4, 1971) is a Canadian multimedia artist from Waterloo, Ontario. He is best known for his work with video and large-scale photography. Life and Work Andrew Wright was born in Cambridge, UK in 1971 and grew up in Kingston, Ontario, Canada. , Chief Executive Officer of Addus. The company's strong, consistent senior management/leadership will remain unchanged. The terms of transactions were not disclosed. Freeport Financial LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control acted as lead agent for the debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay . Provident Healthcare Partners, LLC acted as exclusive financial advisor to Addus. About Addus HealthCare, Inc. Headquartered in Palatine, Illinois
About Eos Partners, L.P. Eos is a private investment partnership with over $1.8 billion of capital under management. Formed in 1994 to provide value-added capital to businesses at an inflection point Inflection Point An event that changes the way we think and act. -Andy Grove, Founder of Intel. Notes: For example, the fall of the Berlin Wall was an inflection point in global politics and the commercialization of the Internet was an inflection point in technology. in their development, Eos invests in middle and lower middle market companies undergoing ownership transitions, subsidiary divestitures, management buyouts Management buyout (MBO) Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout See going private. , and recapitalizations. Eos focuses on a variety of industries, including healthcare services, marketing services, transportation and logistics, outsourced business services and energy. www.eospartners.com About Freeport Financial LLC Freeport Financial LLC is a leading provider of capital and leveraged finance solutions to middle market companies with private equity sponsor ownership. Freeport Financial LLC invests at all levels of the capital structure but focuses primarily on providing cash flow and asset based lending products including senior secured, junior secured and unsecured loans to support leveraged buyouts, recapitalizations, and corporate refinancing. Founded by a group of experienced corporate finance and capital markets professionals and located in Chicago, Freeport Financial LLC has the industry expertise and product knowledge to serve the financing needs of private equity sponsors and their middle market companies. www.freeportfinancial.com About Provident Healthcare Partners, LLC Provident Healthcare Partners, LLC is a Boston-based investment banking firm specializing in the healthcare industry. The firm is comprised of senior-level healthcare and corporate finance professionals with in-depth knowledge and extensive transaction experience in all healthcare fields. The firm has successfully completed merger and acquisition transactions with companies operating in all sectors of the healthcare industry. www.providenthp.com |
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