RICHMOND, Va. (February 11, 2016)—Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, announces the sale of All Metro Health Care (All Metro), a provider of home health care services, to One Equity Partners (OEP). Harris Williams & Co. served as the lead financial advisor to All Metro, a portfolio company of Nautic Partners, LLC (Nautic). The transaction was led by Geoff Smith, James Clark, Whit Knier and Tyler Bradshaw of Harris Williams & Co.’s Healthcare & Life Sciences (HCLS) Group.
“Management and Nautic have transformed All Metro into the leading provider of home care services in the markets it serves, enhancing the quality, scale and sophistication of the business during their ownership,” said Geoff Smith, a managing director at Harris Williams & Co. “In addition, they have driven exceptional organic and acquisition-based growth. We wish the management team continued success under their new partnership with OEP.”
“As a preferred provider of critical services to an underserved population and a valued partner to health plans, states and communities, we believe All Metro remains very well positioned to continue its impressive growth,” said James Clark, a managing director at Harris Williams & Co. “All Metro represents another highly successful transaction for Harris Williams & Co. in the home care sector. We are grateful for the opportunity to represent exceptional companies like All Metro and provide successful outcomes to clients like Nautic.”
Headquartered in Valley Stream, New York, All Metro is a leading provider of home and community based services in New York, Pennsylvania, New Jersey and Florida. All Metro is a licensed home care agency providing primarily non-skilled personal care aide services, including light housekeeping, homemaking, bathing and grooming to seniors and high needs individuals. All Metro provides its services from 10 branches in New York, 17 branches in Pennsylvania, two branches in New Jersey and two branches in Florida. In addition to its non-skilled personal care aide services, All Metro is also a leading provider under two specialty home care waiver programs in New York. These waiver programs provide the necessary services required to allow nursing home eligible individuals and individuals with traumatic brain injuries to remain in community settings rather than nursing homes.
Nautic is a middle market private equity firm that focuses on three industries: health care, industrial products and outsourced services. Nautic has completed over 120 platform transactions throughout its 30-year history. Nautic’s strategy is to partner with management teams to accelerate the growth trajectory of its portfolio companies via add-on acquisitions, targeted operating initiatives and increased management team depth. Nautic generally makes equity investments of $25 million to $100 million.
OEP was founded in 2001 as the private investment arm of Bank One Corporation and became the private investment arm of JPMorgan Chase & Co. in 2004. From 2001 through 2014, OEP invested $11 billion in 74 companies with a focus on partnership with existing owners to realize transformative change in their businesses, often through mergers or other growth-focused primary capital investments.
Harris Williams & Co., a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s HCLS Group has experience across a broad range of sectors, including alternate site care, outsourced clinical and practice management services; health care staffing; health care IT; managed care and cost containment services; medical devices, products and distribution; and outsourced pharmaceutical services. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams & Co. website.
