National provider of in-home care solutions expands footprint in Chicago area through acquisition of Partners in Senior Care.
San Diego, CA (January 8, 2019) – HCAP Partners, a California-based mezzanine debt and private equity firm, announced that portfolio company Arosa+LivHOME, has acquired Partners in Senior Care to expand its presence into the northern suburbs of Chicago.
Arosa+LivHOME was recently formed after the acquisition of two regional healthcare companies by Bain Capital Double Impact, the impact investing business of Bain Capital. The combined company is dedicated to creating new standards of care in the fast-growing, in-home care industry while maintaining a focus on professionalizing direct care jobs and celebrating the meaningful work of caregivers.
Partners in Senior Care has built a national reputation as a leader in developing and retaining outstanding caregivers. Founded in 2003 in Grayslake, IL, Partners in Senior Care has served thousands of clients and families throughout Lake and Cook Counties. This acquisition allows Arosa+LivHOME to expand its geographic footprint in the northern suburbs of Chicago and leverages existing expertise from Arosa’s home care business to create opportunities for growth.
“Over the past 15 years, Partners in Senior Care President, Trisha Menoni, and the company's Director of Business Development, Angie Landmesser, have established a culture that celebrates remarkable caregivers,” says Ari Medoff, CEO of Arosa+LivHOME. “We look forward to partnering with the entire Partners in Senior Care team to spread its best practices to other Arosa+LivHOME markets, and to growing our care management presence in the northern Chicago suburbs. This fits the bill as we look to be the home of choice for high quality, independent home care and care management companies that share our core mission.”
"This acquisition is another strong step in Arosa+LivHOME's mission to develop a national network of high-quality personalized care built upon a foundation of quality jobs for caregivers. The company's approach directly reflects HCAP Partners efforts to nurture quality jobs within our investments and we look forward to our continued work with the Arosa+LivHOME team," added Hope Mago, a Principal at HCAP Partners.
Arosa+LivHOME is actively seeking add-on acquisitions of high-quality care management companies and high-performing sales talent to join its growing team. For more information, please contact business development at email@example.com.
About LivHOME Inc.
LivHOME delivers a personalized package of care management led in-home care services for older adults and their families. Founded in 1999, the company is dedicated to finding solutions that enable older adults to remain in their own homes as long as possible. Based in Los Angeles, LivHOME delivers the highest quality in-home care in California, Illinois, and Texas. For information, contact LivHOME, Inc., 5670 Wilshire Blvd., Suite 500, Los Angeles, California 90036, 1-800-660-CARE, or visit www.livhome.com.
About Arosa LLC
Founded in 2012, Arosa strives to create value by taking an operational approach to investing in the healthcare services industry. Through its affiliates, Nurse Care of North Carolina and Developmental Therapy Associates, it provides non-medical in-home care, skilled in-home care, pediatric therapy, and facility staffing throughout Central and Eastern North Carolina. For information, contact Arosa LLC, 3200 Croasdaile Dr. Suite 701, Durham, North Carolina 27705, 844-968-7730, or visit www.arosallc.com.
About HCAP Partners
HCAP Partners was founded in 2000 and is a provider of mezzanine debt and private equity for underserved, lower-middle market companies throughout California and the Western United States. The firm seeks to invest $2 million to $9 million in established businesses generating between $10 million and $75 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP Partners has invested in over 60 companies since it was founded and through ongoing, active engagement with portfolio companies the team at HCAP Partners provides value-added resources to help optimize performance and increase enterprise value. The firm has been recognized as an ImpactAssets 50 fund five years running and, through its Gainful Jobs Approach™, works to facilitate a positive impact on underserved businesses, their employees, and their communities through active portfolio engagement. Partners Tim Bubnack and Frank Mora and Principals Hope Mago and Nicolas Lopez lead HCAP Partners’ investment team. For more information, please visit www.hcapllc.com.