Ridgemont Capital Partners, a prominent middle market private equity firm, has made a significant move to bolster its healthcare portfolio with the acquisition of Agape Care Group. Announced recently, this strategic investment marks Ridgemont’s entry into the hospice and palliative care sector, signaling a strong belief in Agape Care’s market position and future growth potential within the Southeastern United States. Agape Care Group, recognized as a leading provider in the region, brings a robust operational framework and a patient-centric approach that aligns seamlessly with Ridgemont’s investment philosophy.
Agape Care Group: A Leader in Hospice and Palliative Care
Agape Care Group has established itself as a premier provider of hospice and palliative care, primarily serving communities across South Carolina and Georgia. The company distinguishes itself by offering comprehensive end-of-life care, catering to patients both in their homes and within healthcare facilities. This commitment to full-spectrum care underscores Agape Care’s dedication to meeting the diverse needs of its patients and their families during sensitive times. With a strong presence in the Southeast, Agape Care has built a reputation for delivering compassionate care and support, making it an attractive platform for investment and further expansion.
Ridgemont’s Strategic Vision for Healthcare Investment
Ridgemont Equity Partners’ acquisition of Agape Care Group highlights the firm’s strategic focus on identifying and investing in high-growth sectors within the middle market. Dan Harknett, Partner at Ridgemont, articulated the firm’s enthusiasm for this acquisition, noting Agape Care’s operational excellence and commitment to quality patient care. Ridgemont’s interest in the hospice sector is not new; the firm has been actively exploring opportunities within this space for several years. The partnership with Agape Care is seen as a pivotal step in Ridgemont’s strategy to expand its footprint in the healthcare industry through targeted acquisitions and organic growth initiatives. The firm believes Agape Care is ideally positioned to broaden its geographic reach across the Southeast, particularly through strategic acquisitions in the hospice and palliative care domain.
Leadership Perspectives on the Partnership
Troy Yarborough, CEO of Agape Care Group, expressed optimism about the partnership with Ridgemont, emphasizing the cultural alignment and shared vision between the two organizations. He highlighted Agape Care’s commitment to localized patient care, rooted in a workplace culture that values integrity and compassion. Yarborough believes that Ridgemont’s partnership will enable Agape Care to not only expand its presence but also to enhance its service offerings and operational efficiency. This collaboration is expected to preserve and strengthen Agape Care’s legacy of delivering exceptional patient and family experiences during critical life moments, while leveraging Ridgemont’s resources and expertise for strategic growth.
Financing and Advisory Teams Behind the Acquisition
The financial structuring of this acquisition involved a consortium of leading financial institutions. Financing was provided by Antares Capital, Crescent Direct Lending, Churchill Asset Management, Audax Private Debt, and Pathway Capital Management. Ridgemont received financial advisory services from Edgemont Partners and legal counsel from Dechert LLP. On the other side of the transaction, Agape Care and their previous financial sponsor, The Vistria Group, were advised by Harris Williams and Cain Brothers, a division of KeyBanc Capital Markets, as financial advisors, and Winston & Strawn LLP as legal advisors. The financial terms of the agreement remain undisclosed, but the involvement of these prominent firms underscores the significance and complexity of this middle-market transaction.
Looking Ahead: Growth and Expansion for Agape Care
With Ridgemont Capital Partners’ backing, Agape Care Group is poised for a phase of accelerated growth and expansion. The investment from Ridgemont not only provides capital but also strategic guidance and operational expertise to further solidify Agape Care’s market leadership in the hospice and palliative care sector. The focus will likely be on expanding geographically within the Southeast, potentially through further acquisitions of complementary businesses, and enhancing the range and depth of services offered to patients and families. This partnership between Ridgemont Capital Partners and Agape Care Group represents a strategic alignment of resources and vision, setting the stage for continued success and enhanced patient care in the region.
