MINNEAPOLIS (April 7, 2016) — Yukon Partners (“Yukon”), a provider of mezzanine capital for middle market private equity transactions, is pleased to announce its support of Encore Rehabilitation Services, LLC (“Encore” or the “Company”) in its add-on acquisition of Evergreen Rehabilitation, LLC (“Evergreen”), and Select Medical Rehabilitation Services, Inc. (“SMRS”) and Metro Therapy, Inc. (“Metro Therapy”), the contract therapy business of Select Medical Holdings Corporation (NYSE:SEM).
Encore, headquartered in Farmington Hills, MI, is a provider of outcome-driven rehabilitative services and associated compliance and revenue cycle support services primarily to skilled nursing facilities (“SNFs”). The Company is a current portfolio company of Yukon and is led by Revelstoke Capital Partners (“Revelstoke”), a Denver based private equity investment firm.
Evergreen, based in Louisville, Kentucky, is a provider of outsourced rehabilitation and management services to long-term care facilities including skilled nursing and assisted living facilities. Evergreen provides physical, occupational, and speech therapy services to over 100 client facilities across more than 20 states.
Michael Houlihan, CEO and Co-Founder of Evergreen, commented “The resources and expertise that Encore brings will enable Evergreen to continue its mission to offer first class therapy to its patients across the country.” Michael Houlihan will continue with Encore as its President of Business Development.
SMRS and Metro Therapy provide outsourced rehabilitation services to skilled nursing facilities, assisted living facilities, hospitals, and schools. SMRS and Metro Therapy provide physical, occupational, and speech therapy services, as well as staffing services, to over 370 facilities across more than 25 states.
Sue Olsen, President of SMRS, commented “I am excited to join forces with Encore to create a dynamic contract therapy provider that has experience, talent and resources on a national level. Our combined company will use evidenced-based therapy programs and quality reporting to create the best possible patient experiences and functional outcomes.” Sue Olsen will continue with Encore as its President of Ancillary Services and a Divisional Vice President overseeing regional operations in Florida, New Jersey and New York.
“These acquisitions will add significant scale and reach to Encore and will further expand our services across the continuum of care” said Linda Shackelford, CEO and Co-Founder of Encore. “Evergreen and the Select contract therapy business have developed strong reputations in the industry. We are pleased to have Michael Houlihan and Sue Olsen join our team and look forward to being one combined company focused on high quality patient care and client service.”
“We are excited to support Revelstoke and the Encore management team as they continue to execute their value-added strategy,” said Michael Hall, Managing Partner of Yukon. “With Revelstoke’s hands-on approach and experience within the healthcare industry alongside the operational expertise and leadership of the senior management team, we are confident Encore, together with these add-ons, will continue its impressive growth trajectory within the rehabilitative services market.”
About Encore Rehabilitative Services, LLC
Encore is a provider of outcome-driven rehabilitative therapy services and associated compliance and revenue cycle support services primarily to skilled nursing facilities as well as assisted living facilities, home health agencies, hospitals and schools. Encore operates in 34 states and manages the delivery of a full spectrum of physical, occupational and speech therapy services and provides sophisticated quality, compliance and documentation capabilities to over 650 client facilities. Encore was founded in 2007 and is headquartered in Farmington Hills, Michigan. For more information, please visit www.encorerehabilitation.net.
About Yukon Partners
Yukon Partners is an independent and unaffiliated mezzanine firm primarily serving middle market private equity sponsored business transactions with a typical investment range of $10 to $40 million in the U.S. and Canada. The transactions in which Yukon invests include buyouts, growth and platform strategies, recapitalizations, mergers/acquisitions, and public-to-private buyouts. Yukon Partners is based in Minneapolis, Minnesota. For more information, please visit www.yukonpartners.com.
About Revelstoke Capital Partners
Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies. Revelstoke strives to partner with management teams to execute on a disciplined organic and acquisition strategy to build exceptional companies. Revelstoke’s Managing Partners, Mark King, Dale Meyer and Simon Bachleda, have completed over 100 platform and add-on acquisitions, representing over $6 billion of total enterprise value. For more information, please visit www.revelstokecp.com.
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