Boston private equity firm Audax Group has acquired Active Day/Senior Care, an adult care provider, from Clearview Capital Partners, for an undisclosed amount.
Trevose, Pennsylvania-based Active Day provides adult day care services and in-home period care through more than 80 locations in the U.S. The company's services include therapeutic activities, socialization and expert health and nursing care. The in-home care segment also assists with meal preparation, bathing and exercising, as well as entertainment and emotional support. The company had been backed by Greenwich, Connecticut-based Clearview since 2005.
"Audax' resources and experience with health care services businesses will help us accelerate our growth as we open new facilities and pursue strategic add-on acquisitions," says Active Day CEO Jim Donnelly.
Audax specializes in building lower middle-market businesses. The firm recently closed its 500th acquisition, the add-on of Dermatology of Northern Colorado to portfolio company Advanced Dermatology & Cosmetic Surgery. For more, watch our video interview with Audax managing director Jay Jester.
The firm also recently closed its fifth private equity firm with $2.25 billion in capital commitments.
Lincoln International advised Active Day and Clearview Capital on the deal. Ropes & Gray advised Audax. Golub Capital provided financing for the transaction.
For more on home health care, see Health Care Comes Home.