Glencoe Capital Invests In Encore Rehabilitation Services

Glencoe Capital Invests In Encore Rehabilitation Services

Glencoe Capital’s Michigan Opportunities Fund has closed on an equity investment in Encore Rehabilitation Services, a provider of rehabilitative therapy services.  “With skilled nursing facilities’ need for therapeutic services for the country’s growing, aging population, we believe Encore is well positioned for expansion,” said David Evans, Glencoe Capital’s Chairman.

Encore is a provider of rehabilitative therapy services to skilled nursing and assisted living facilities. Encore employs more than 1,700 people, with a large portion of them based throughout Michigan. The company is headquartered in Farmington Hills, MI (

“Encore had other partnership opportunities, but ultimately we felt Glencoe Capital’s investment strategy ensured the continuity of our management team and our workforce and provided additional resources to generate sustainable growth,” said Linda Shackelford, Encore’s President and Chief Executive Officer. “This partnership will help us enter new markets, enhance our customer and employee satisfaction, and, most importantly, achieve superior clinical outcomes for our patients.”

Glencoe Capital specializes in lead-sponsored acquisitions and growth equity investments in lower-middle market companies with EBITDA between $3 million and $15 million.  The firm manages more than $650 million of committed capital and has completed over 30 acquisitions representing more than $1 billion in transaction value across its family of four private equity funds.  The Michigan Opportunities Fund is a $153 million private equity fund that invests in lower middle market companies that conduct a material portion of their business in the State of Michigan or in companies located outside Michigan that demonstrate a viable strategy for expanding business operations into the state.  Founded in 1993, Glencoe Capital has offices in Chicago, IL and in Birmingham, MI (

“Encore has a sterling reputation in the healthcare space as a quality provider of therapy services, and the increasing demand for rehabilitative therapy provides opportunity for Encore,” said Jason Duzan, Managing Director of Glencoe Capital. “We are pleased to invest in a well-established Michigan-based business and to support a successful management team.”

Glencoe Capital’s investment in Encore is the seventh by its Michigan Opportunities Fund. Other companies in the fund’s portfolio include Campbell Grinder, a Spring Lake, MI based designer and manufacturer of grinding machines; Flatout, a Saline, MI based producer of flatbread for retail stores; NOVO 1, a provider of inbound call center solutions with a facility in Holland, MI; Moosejaw, a multi-channel retailer of outdoor apparel and equipment based in Madison Heights, MI; Budco, a business processing outsourcing company based in Highland Park, MI; and American Education Group, an operator of pre-K through grade 12 schools for specialized learning, headquartered in Grand Rapids, MI.

© 2012 PEPD • Private Equity’s Leading News Magazine • 12-20-12

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