Harris Williams Advises AccentCare, Inc. on its Pending Sale to Advent International
Harris Williams, a global investment bank specializing in M&A advisory services, announces that it is advising AccentCare, Inc. (AccentCare), a portfolio company of Oak Hill Capital Partners (Oak Hill), on its pending sale to Advent International (Advent). Headquartered in Dallas, AccentCare is a nationwide leader in post-acute healthcare. The transaction, led by James Clark, Turner Bredrup, Whit Knier, Nick Owens, Nathan Robertson and Cameron Thomas of Harris Williams’ Healthcare & Life Sciences (HCLS) Group, extends the firm’s track record in the home health sector.
“AccentCare’s management team and Oak Hill have done a tremendous job building a market-leading, next generation, post-acute care platform and the supporting infrastructure that will continue to drive growth in the years to come,” said James Clark, a managing director at Harris Williams. “We are honored to have advised this impressive management team on the transaction and are thrilled to have found an excellent partner in Advent to support their continued growth and success.”
“AccentCare has developed strong partnerships with leading health plans, health systems and provider groups across the country as a result of its consistently leading quality of care,” said Nick Owens, a director at Harris Williams. “These partnerships combined with a growing home care market provide attractive opportunities in key markets and position the company for continued organic and acquisitive growth across all business lines.”
AccentCare is a nationwide leader in post-acute healthcare, with innovative partnerships and care models covering the full continuum from personal, non-medical care to skilled nursing, rehabilitation, hospice and care management. AccentCare has over 24,000 compassionate professionals in more than 175 locations across 16 states, serving over 17,000 physicians and 2,000 facilities. In addition, the company has over 30 regional strategic partnerships with health plans, physician groups and major health systems, including joint ventures.
AccentCare is committed to improving the quality of living for approximately 123,000 individuals each year. Its approach to care, including proprietary RightPath disease-specific programs, consistently exceeds the industry in avoidance of unplanned re-hospitalizations, faster starts of care and quality performance. Among its distinctions, AccentCare has a 4.5-star quality rating for legacy home health agencies, many of which have earned the HomeCare Elite distinction. All hospice locations are CHAP-accredited, many with advanced designations from the We Honor Veterans program.
Oak Hill is a private equity firm managing funds with approximately $15 billion of initial capital commitments and co-investments since inception. Over the past 30 years, Oak Hill and its predecessors have invested in over 90 significant private equity transactions across broad segments of the U.S. and global economies. Oak Hill applies an industry-focused, theme-based approach to investing in the following sectors: consumer, retail and distribution; industrials; media and communications; and services. Oak Hill works actively in partnership with management to implement strategic and operational initiatives to create franchise value.
Founded in 1984, Advent is one of the largest and most experienced global private equity investors. The firm has invested in over 345 private equity transactions in 41 countries, and as of December 31, 2018, had $36 billion in assets under management. The firm’s current portfolio companies generate $50 billion in annual revenue and employ over 290,000 people. With offices on four continents, Advent has established a globally integrated team of over 195 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecom. After more than 30 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
Harris Williams’ HCLS Group has experience across a broad range of sectors, including medical devices, products and distribution; multi-site and retail healthcare providers; alternate site care; healthcare IT; managed care and cost containment services; outsourced clinical services; and outsourced pharma services. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: firstname.lastname@example.org). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.