Onex Corporation has agreed to make an investment in Schumacher Group, a provider of outsourced emergency room and hospital staffing. Dr. William “Kip” Schumacher, who founded the company in 1994, will continue to serve as Chairman of the Board and own a significant interest in the company along with existing management. The transaction is expected to close in the third quarter of 2015.
“Dr. Schumacher founded the company in 1994 with a focus on delivering consistently good clinical outcomes and improving service quality, which has driven its success over the last two decades,” said Joshua Hausman, a Managing Director with Onex. “We are excited to partner with Dr. Schumacher, CEO Rich D’Amaro and the entire Schumacher team, and look forward to continuing to invest in its people and brand.”
Schumacher Group has approximately 264 staffing contracts in 28 states including 137 for emergency room operations. Last year, Schumacher physicians and staff treated more than four million patients. The company has approximately 1,600 employees and is headquartered in Lafayette, LA (www.schumachergroup.com).
“We see tremendous growth possibilities for the company and are excited to have Onex as our partner,” said Mr. D’Amaro. “We believe that Onex’ resources, strategic guidance and experience in working with companies like ours will allow Schumacher to accelerate its growth.”
Onex Corporation makes private equity investments through the Onex Partners and the ONCAP families of funds. The investment in Schumacher Group will be made by Onex Partners IV, Onex’ $5.7 billion flagship fund. Onex has more than $21 billion of assets under management and is based in Toronto with additional offices in New York and London (www.onex.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 6-16-15
