LLCP AND MANAGEMENT ACQUIRE SYNERGY HOMECARE
Industry-Leading Provider of In-Home Care Services
Continues Market-Leading Growth
TEMPE, Ariz., Jan. 21, 2025 /PRNewswire/ -- Levine Leichtman Capital Partners ("LLCP"), a Los Angeles-based private equity firm, announced today that it has partnered with management to acquire SYNERGY HomeCare, an industry-leading provider of in-home care services to seniors and individuals of all ages, from NexPhase Capital.
Headquartered in Tempe, Arizona, SYNERGY HomeCare, an Entrepreneur 500 ranked enterprise and a Top Franchise, according to Franchise Business Review, led the home care industry in territory sales growth for the fourth consecutive year in 2023, and expects to lead again for 2024.
A pioneer in the home care industry, SYNERGY HomeCare provides a broad range of non-medical in-home services including personal care, companion care, memory care and specialized care for individuals who are living with physical or developmental disabilities, chronic health conditions, or recovering from illness or surgery. SYNERGY HomeCare, which was founded in 1999, has over 240 franchises operating in approximately 550 territories in 42 states across the U.S.
SYNERGY HomeCare will continue to be run by its current executive team, led by CEO Charlie Young.
According to Matthew Frankel, Managing Partner of LLCP, "We are thrilled to partner with Charlie and the existing management team, who have driven the exceptional growth of SYNERGY. We look forward to working with them to enhance their market-leading value proposition as they continue to accelerate systemwide sales and territory growth. Charlie and the rest of the management team have had tremendous success, and we are excited to leverage our extensive experience investing in the franchising space, including the home care market, to pursue various strategic growth initiatives."
Greg Flaster, Managing Director at LLCP, added, "SYNERGY is one of the fastest-growing, nationally scaled franchisors in the in-home care industry, having led the sector in territory growth in recent years. With a wide array of non-medical in-home care services for patients and valuable tools provided to franchisees, we believe SYNERGY is uniquely positioned to benefit from the industry's attractive tailwinds. We are excited to capitalize on these favorable tailwinds, and more broadly we look forward to supporting the Company through this next chapter of success."
Mr. Young commented, "We are excited to have LLCP's deep expertise in supporting and successfully growing franchised businesses like ours, as well as a shared vision for the future as we fulfill our mission to provide world class care at home for all. Our key priorities continue to be growth-oriented, including opening new markets, helping optimize our existing franchisees' operations, enhancing our service offerings, and expanding access to professional in-home care to more people. We are grateful for the support of our partners at NexPhase, who helped us achieve industry-leading growth and bring our care and service offerings to an expanded base of clients across the country."
The SYNERGY HomeCare acquisition marks LLCP's 17th franchising investment, with a combined 31 brands, including prior investments of in-home care concepts such as Senior Helpers and Caring Brands, and more broadly in franchising, including Tropical Smoothie Cafe, Kilwins, Nothing Bundt Cakes, and Hand & Stone.
Honigman LLP and DLA Piper served as legal counsel to LLCP. SYNERGY HomeCare was advised by Houlihan Lokey, Baird, McDermott Will & Emery, and Lathrop GPM. Terms of the transaction were not disclosed.
About SYNERGY HomeCare:
SYNERGY HomeCare is the fastest-growing national franchisor in the home care industry with over 240 franchises operating in approximately 550 territories in 42 states across the U.S. The company provides a broad range of non-medical in-home services including personal care, companion care, memory care and specialized care for individuals who are living with physical or developmental disabilities, chronic health conditions or recovering from illness or surgery. No matter what each person's circumstances are, SYNERGY HomeCare steps in with effective, comforting, life-affirming care that moves people emotionally and physically forward. For more information visit SYNERGYHomeCare.com or find an in-home care location near you.
About Levine Leichtman Capital Partners:
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 40-year track record of investing across various targeted sectors, including Business Services, Franchising & Multi-unit, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.
LLCP's global team of dedicated investment professionals is led by 10 partners who have worked at LLCP for an average of 20 years. Since inception, LLCP has managed approximately $15.6 billion of institutional capital across 15 investment funds and has invested in over 100 portfolio companies. LLCP currently manages $10.0 billion of assets and has offices in Los Angeles, New York, Chicago, Miami, London, Stockholm, Amsterdam and Frankfurt.
Media Contact - SYNERGY HomeCare:
David Siroty, Imagine Productions
David@ImaginePRStrategy.com
(908) 337-5865
Media Contact - Levine Leichtman Capital Partners:
Cathy Thomas, LLCP
cthomas@llcp.com
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SOURCE SYNERGY HomeCare