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Levine Leichtman Capital Partners Sells Caring Brands International

·5-min read

LOS ANGELES, October 25, 2021--(BUSINESS WIRE)--Levine Leichtman Capital Partners ("LLCP"), a Los Angeles-based private equity firm, announced today that it has sold its portfolio company Caring Brands International, Inc. ("Caring Brands," "CBI" or the "Company") to Wellspring Capital ("Wellspring").

Headquartered in Sunrise, Florida, Caring Brands is the largest franchisor of home healthcare services globally and the only franchisor offering the full continuum of care at home, including skilled nursing, assistance with daily living activities and end-of-life hospice care. The Company operates under three brands: Interim HealthCare (U.S.), Bluebird Care (U.K. and Ireland) and Just Better Care (Australia). The three brands represent over 585 locations operated by more than 290 franchise owners and produce approximately $1.3 billion of annual systemwide sales.

Matthew Frankel, Managing Partner of LLCP, said, "The Caring Brands management team, led by Jennifer Sheets, has built an incredible business and the investment has been extremely successful for LLCP and CBI’s stakeholders. Since investing in 2015, we have completed numerous add-on acquisitions (both domestic and abroad), driven the increased adoption of Caring Brands’ higher acuity service lines (especially hospice and home health), and added a company-owned branch strategy to further accelerate growth. Caring Brands is exceptionally positioned to continue executing on its growth plan and we wish the management team, franchisees and Wellspring further success."

Jennifer Sheets, President and CEO of Caring Brands, commented, "It has been a true pleasure partnering with LLCP, my executive team and our franchisees to accelerate Caring Brands’ growth. LLCP’s incredible expertise in both franchising and healthcare made them an invaluable partner to our Company and we benefited greatly from their strategic direction. LLCP shares our philosophy that providing franchisees incredible support is paramount to the success of any franchisor."

The sale of Caring Brands is LLCP’s eighth recent successful exit, following FlexXray, Trinity Consultants, Nothing Bundt Cakes, ZorgDomein, Jonathan Engineered Solutions, Futurewhiz and Pacific Handy Cutter.

Lincoln International served as financial advisor, and Kirkland & Ellis LLP served as legal counsel to Caring Brands in connection with the sale.

About Levine Leichtman Capital Partners

Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 38-year track record of investing across various targeted sectors, including franchising, business services, education and engineered products. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. This unique structure provides a less dilutive solution for management teams and entrepreneurs, while delivering growth and income with a significantly lower risk profile.

LLCP’s global team of dedicated investment professionals is led by seven partners who have worked at LLCP for an average of 22 years. Since inception, LLCP has managed approximately $12.7 billion of institutional capital across 15 investment funds and has invested in over 90 portfolio companies. LLCP currently manages $9.0 billion of assets and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm and The Hague.

About Caring Brands International

Caring Brands International (CBI) is the largest franchisor of home healthcare services globally with more than 550 locations around the world. CBI offers franchises under three brands: Interim HealthCare (United States and Saudi Arabia), Bluebird Care (United Kingdom and Republic of Ireland) and Just Better Care (Australia). CBI’s branches and franchisees offer individuals and strategic partners a full continuum of care including skilled nursing, assistance with daily living activities and end-of-life hospice care.

About Interim HealthCare Inc.

Founded in 1966 and First in Home Care ®, Interim HealthCare Inc. is unique in combining the commitment of local ownership with the support of a national organization that develops innovative programs and quality standards. The only major franchise brand in its category to offer the full continuum of care, the company strives to improve the delivery of home healthcare and staffing services through 330 plus locations servicing the U.S. and Saudi Arabia. Ranked #1 for the third year in a row by Entrepreneur magazine, franchisees employ nurses, therapists, aides, companions and other healthcare professionals who provide 25 million hours of home care service to 200,000 people each year, meeting a variety of home health, senior care, hospice, palliative care, pediatric care and healthcare staffing needs. For more information or to locate an Interim HealthCare office, visit www.interimhealthcare.com.

About Bluebird Care

Bluebird Care is the UK’s largest national independent provider of care and support at home services, demonstrating the highest standards of quality, professionalism and expertise with every home visit. Bluebird Care started as a small family business in 2004 and through franchising the business model in 2006, the organisation is today one of the largest providers of homecare, live-in care and support services across the United Kingdom and Republic of Ireland.

With over 200 offices, the Bluebird Care franchise owner network provide over 20,000 visits to customers every day, revolutionising the way high quality and bespoke care is delivered not only to older people, but also to those with specialist care needs, children and their families. With a mantra of, "Home is where the heart is, let’s keep it there", you can find out more information on the care and support at home options that are offered by Bluebird Care by visiting: https://www.bluebirdcare.co.uk/ and https://www.bluebirdcare.ie.

About Just Better Care

Established in 2005, Just Better Care is one of Australia’s largest accredited franchised providers of in-home home care services in Australia, delivering in-home social and lifestyle support services that enable people to live independently. Just Better Care currently has over 40 independently owned and operated franchise territories covering NSW, Queensland, Victoria, the ACT, Western Australia and the successful franchisor is currently expanding its footprint of local offices into Tasmania. The Just Better Care mission is to provide high quality personalised services "just for you" to those requiring assistance to live independently and thrive personally. To find out more about Just Better Care visit justbettercare.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211025005527/en/

Contacts

Mark Semer/Alex Jeffrey
Gasthalter & Co.
(212) 257 4170
llcp@gasthalter.com

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