Harris Williams Advises Ivy Rehab Physical Therapy on its Continuation Fund Transaction
October 06 2022 - 12:54PM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised Ivy Rehab Physical
Therapy (Ivy) on its continuation fund transaction. The transaction
was led by Andy Dixon, Cheairs Porter and Lucas Scholl of the
Harris Williams Healthcare & Life Sciences (HCLS) Group.
“We continue to see strong investor interest in the outpatient
physical rehabilitation services industry, especially for
high-quality providers like Ivy,” said Andy Dixon, a managing
director at Harris Williams. “We believe the company’s exceptional
patient care, proven de novo and partnership models, and
outstanding management team position it to capitalize on a number
of attractive trends driving demand for outpatient rehabilitation
services. It was a pleasure working with the Ivy team.”
“We look forward to watching Ivy continue its growth alongside
Waud Capital Partners,” added Cheairs Porter, a managing director
at Harris Williams.
Ivy is a leading provider of outpatient therapy services across
the Northeast, Mid-Atlantic, Southeast, and Midwest regions of the
United States through a rapidly growing network of more than 450
clinics that includes approximately 100 dedicated pediatric therapy
clinics. Across its network of sites, Ivy offers a comprehensive
set of therapy treatment options and specialized care programs and
is dedicated to providing exceptional clinical care and the best
patient experience. Ivy has grown its clinic base and revenue more
than tenfold since Waud Capital Partners’ initial investment in
2016. The company has pursued growth organically by opening new
locations and expanding service lines and inorganically through
add-on acquisitions to build density in existing markets and to
expand into new geographies. Ivy is led by CEO Michael Rucker, and
he and the experienced executive leadership team recruited by Waud
Capital Partners will remain with the company over its new
investment horizon in an effort to pursue additional growth and
industry leadership.
Waud Capital Partners is a growth-oriented private equity firm
with total capital commitments of approximately $3.7 billion since
its founding in 1993. Waud Capital Partners seeks to partner with
strong management teams to build market-leading companies within
two industries: healthcare services and software/technology. Since
its founding, Waud Capital Partners has successfully completed more
than 400 investments, including platform companies and follow-on
opportunities.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams HCLS Group has experience across a broad
range of sectors, including healthcare providers; payors and payor
services; outsourced pharmaceutical services; medical device supply
chain; healthcare IT; and pharmacy. For more information on the
HCLS Group and other recent transactions, visit the HCLS Group’s
section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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For media inquiries, please contact Julia Moore at
media@harriswilliams.com.
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