Private equity firm Advent International has agreed to acquire a majority interest in ATI Physical Therapy from KRG Capital Partners. Under the agreement, ATI’s current management team will continue to hold a “significant minority stake” in the company.

ATI, headquartered in Bolingbrook, Illinois, provides rehabilitation services, research-based physical therapy, workers’ compensation rehab, employer worksite programs and sports medicine. The company operates more than 500 clinics across 19 U.S. states.

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