Harris Williams Advises Upstream Rehabilitation in Connection with its Sale to Revelstoke Single Asset Fund I
December 10 2019 - 12:14PM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised Upstream
Rehabilitation (Upstream), a portfolio company of Revelstoke
Capital Partners (Revelstoke), on its sale to Revelstoke Single
Asset Fund I, a newly formed special purpose vehicle affiliated
with Revelstoke. Upstream is a leading national provider of
outpatient and specialized physical therapy services, operating
more than 746 clinics across 27 states. The advisory engagement was
led by Andy Dixon, Cheairs Porter, Ben Bloomfield and Michael
Mahoney of the Harris Williams Healthcare & Life Sciences
(HCLS) Group.
“It was a pleasure working alongside Upstream management and the
Revelstoke team throughout this transaction,” said Andy Dixon, a
managing director at Harris Williams. “Upstream is well-positioned
at the forefront of attractive tailwinds in the physical therapy
sector, and our team is excited to see the company’s next chapter
in partnership with Revelstoke.”
Having previously advised Upstream on its initial sale to
Revelstoke in 2015 and subsequently advising the sellers during
Upstream’s merger with Drayer Physical Therapy Institute, this
transaction adds to Harris Williams’ successful track record of
working with leading companies in the physical therapy space.
Upstream, one of the largest and fastest growing physical
therapy providers in the U.S., operates through a network of strong
regional brands including the following: BenchMark Physical
Therapy, Drayer Physical Therapy Institute, Peak Physical Therapy,
SERC Physical Therapy, Integrity Rehab Group and more. The company
provides a comprehensive suite of outpatient and specialized
physical therapy services and sees over 4 million patient visits
annually. Upstream is headquartered in Birmingham, Alabama.
Revelstoke is a private equity firm formed by experienced
investors who focus on building industry-leading companies in the
healthcare and related business services sectors. Revelstoke
partners with entrepreneurs and management teams to execute on a
disciplined organic and acquisition growth strategy to build
exceptional companies. Since the firm’s inception in 2013,
Revelstoke has raised over $2.3 billion of equity and has completed
65 acquisitions, which includes 17 platform companies and 48 add-on
acquisitions.
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 medical devices, products and
distribution; multi-site and retail healthcare providers; alternate
site care; healthcare IT; managed care and cost containment
services; outsourced clinical services; and outsourced pharma
services. 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 5th Floor, 6 St. Andrew Street, London EC4A 3AE, 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.
For media inquiries, please contact Katie Langemeier, associate
brand manager, at +1 (804) 648-0072.
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version on businesswire.com: https://www.businesswire.com/news/home/20191210005859/en/
Katie Langemeier, associate brand manager, +1 (804) 648-0072
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