Home Solutions Announces Completion of Recapitalization With KRG to Drive Future Growth
NORTHFIELD, N.J., Oct. 12, 2012 /PRNewswire-iReach/ -- Home Solutions Holdings, LLC ("Home Solutions" or the "Company"), the leading independent provider of specialty infusion pharmacy services, today announced that it has completed a recapitalization with an affiliate of KRG Capital Partners ("KRG"), the Denver-based private equity firm with more than $4.3 billion of capital under management.
The transaction provides additional financial capacity to Home Solutions, further enabling the Company to respond to the needs of the ever-changing healthcare environment. Partnering with KRG will allow Home Solutions to continue to expand its clinical services and broaden its geographic footprint in the growing homecare market.
Home Solutions was founded in 1996 by its current CEO, Todd Timbrook, a pharmacist and industry veteran. The Company has developed into one of the most well-respected infusion providers in the country by delivering unmatched customer service and demonstrating clinical excellence. Home Solutions has extensive experience and expertise in a wide array of services provided in the home and other alternate site settings. The Company's seasoned management team will remain in place to further expand Home Solutions both organically as well as continuing to integrate other select assets via acquisition.
"Home Solutions has an outstanding track record of growth", said Steve Neumann, Managing Director at KRG. "KRG is excited to continue to build upon that growth and partner with Todd Timbrook and the entire Home Solutions team to advance their reputation as a market leader. We believe the Company is positioned well to take advantage of considerable opportunities, both within its existing customer base, geographies, and industry verticals, as well as through the penetration of new markets. Across the country the demand is high for quality providers of home infusion services as cost-containment pressures continue to drive a shift from institutional care to the home environment."
Home Solutions' CEO Todd Timbrook said, "KRG shares our vision and provides additional resources that will allow us to continue to build upon a best in class operation. We are enthusiastic about this new chapter in the evolution of our organization. We plan to accelerate our growth strategy by continuing to be the preferred partner of healthcare organizations and managed care customers as a cost effective provider of choice and industry leader."
Cain Brothers acted as financial adviser to Home Solutions in connection with the transaction. Kirkland & Ellis and Epstein Becker Green provided legal counsel to the Company, while Ropes & Gray provided legal counsel to KRG.
About Home Solutions
Home Solutions is a leading specialty infusion provider servicing patients throughout the Northeastern and Mid-Atlantic regions of the U.S. The Company employs over 400 individuals who embody clinical excellence, compassion and professionalism. Home Solutions is Joint Commission accredited and provides a full range of infusion and specialty services in the home and alternate setting. Our commitment is to put the patient first in delivering a quality service while offering cost effective solutions to various industry stakeholders such as physicians, hospitals, managed care payors, and governmental agencies. InfuLink®, the Company's proprietary web monitoring tool, shares data with healthcare providers to help optimize clinical outcomes. More information about Home Solutions is available at www.infusioncare.com.
About KRG Capital Partners
Founded in 1996, KRG is a Denver-based private equity firm with $4.3 billion of capital either deployed or available for future investment, which includes approximately $1 billion deployed since inception on behalf of equity co-investors. The firm seeks investment opportunities where KRG can work in concert with owners and operating managers who are committed to expanding their companies and becoming indus-try leaders. The result is a partnership that focuses on creating a significantly larger enterprise through a combination of internal growth and complementary add-on acquisitions. Since inception, KRG has invested in 44 platform companies and has completed 130 add-on acquisitions for those platforms. More information about KRG is available at www.krgcapital.com.
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SOURCE Home Solutions Holdings, LLC