Sentinel Capital Partners has sold Interim HealthCare, a franchisor of skilled home healthcare services, to The Halifax Group. “Sentinel was a fantastic partner to the Interim team during the course of their ownership. Drawing upon Sentinel’s franchising experience and financial support, Interim was able to successfully navigate through a dynamic period of change in the healthcare industry,” said Kathleen Gilmartin, Interim’s President and Chief Executive Officer
Interim is a home healthcare franchisor with more than 300 independently owned franchise locations in 43 states that provide skilled home healthcare, home-based hospice care, personal care and independent living support, as well as supplemental healthcare staffing. The company was founded in 1996 and is based in Sunrise, FL (www.interimhealthcare.com).
Under Sentinel’s ownership, Interim underwent an operational transformation from a franchisor and direct provider of healthcare services into a “pure-play” healthcare franchisor. As part of the transformation, Interim refranchised all of its company-owned home healthcare locations, exited non-core healthcare businesses, and focused its efforts on recruiting new franchise owners to its network.
“We are proud of the work Sentinel was able to accomplish with Interim’s highly talented and experienced management team over the course of our six-year investment,” said Paul Murphy, partner at Sentinel. “We originally acquired Interim with the goal of working with its management team to redefine and refocus Interim’s position in the healthcare industry. Today Interim is recognized as the nation’s leading home healthcare franchisor.”
This exit marks the latest event in an active year for Sentinel. In addition to Interim, Sentinel has completed three other exits in 2012: Massage Envy, a provider and franchisor of massage therapy and facial treatment services; Inscape Publishing, a provider of assessment and training products and services that develop interpersonal skills; and LTI-Boyd, a manufacturer of mission-critical sealing and energy management solutions. During 2012, Sentinel has also completed three new platform acquisitions: Colson, a manufacturer of casters, wheels, and related hardware products; Northeast Dental Management, a dental practice management company in the mid-Atlantic; and Huddle House, a franchisor and operator of family-dining restaurants.
Sentinel Capital Partners invests in smaller middle market companies in the United States and Canada in partnership with management. The firm invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDAs of between $7 million and $35 million. Sectors of interest include aerospace & defense, business services, consumer, distribution, food & restaurants, franchising, healthcare products and services, and industrials. The firm is located in New York, NY (www.sentinelpartners.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-5-12