Investors Management Corporation Acquires RiseMark Brands
Aug 24, 2016, 02:52 ET
RALEIGH, N.C., Aug. 24, 2016 /PRNewswire/ -- Investors Management Corporation ("IMC"), a Raleigh, NC private investment firm, announced today that it partnered with management to acquire RiseMark Brands ("RiseMark"), a leading in-home senior care franchisor based in Omaha, NE, on August 15.
Allen Hager, founder and executive chairman of RiseMark, will retain significant ownership and will continue to lead RiseMark along with President and Chief Executive Officer Brian Petranick.
"We have found a stable and responsible partner in IMC offering an ownership platform that will enable RiseMark to continue to provide an industry-leading continuum of care for seniors and the disabled," said Hager. "Through this partnership, I am confident that there will be new strategic initiatives that will help us keep a firm grasp on our position as industry leaders."
IMC and RiseMark's management provided the equity for the transaction. Terms of the transaction were not disclosed.
"We are excited to welcome RiseMark into the IMC family of companies," said Quinton Maynard, chairman and CEO of IMC. "We feel that RiseMark's mission to improve the quality of life for those they serve is meaningful and worthwhile and one that we can proudly support for years to come."
RiseMark is one of the nation's leading in-home senior care franchise companies. Through its Right at Home brand, RiseMark provides companion care, personal care, skilled nursing, and Alzheimer's and dementia care in the U.S. and seven international territories. Through its IKOR brand, RiseMark provides life management, healthcare and financial advocacy, and personal guardianship services in the U.S.
"We are proud to partner with an organization that will continue supporting the long-term vision and success of RiseMark and its brands, Right at Home and IKOR," added Petranick.
RiseMark Brands was advised by McLean Group, LLC. McGuireWoods LLP provided legal counsel to IMC. Madison Capital provided financing for the transaction.
About RiseMark
Founded in 1995 by Allen Hager, Omaha, NE-headquartered RiseMark Brands, is a leading franchise platform in the in-home senior care industry offering a broad range of services and ancillary programs that provide a continuum of care for seniors. The company is one of the largest franchise platforms in the sector consisting of three wholly owned subsidiaries including Right at Home, Right at Home International, and IKOR that serve more than 500 territories globally. For more information, please visit www.rightathome.net/about-risemark/.
About Investors Management Corporation
Founded in 1971 by James H. Maynard, IMC is a privately owned investment company located in Raleigh, NC. IMC partners with business leaders and entrepreneurs to fulfill its mission to be a responsible long-term owner of a family of high quality businesses. Today, IMC owns several industry leading businesses including Golden Corral, Fleet Feet Sports and Cornerstone Building Alliance. For more information, please visit www.investorsmanagement.com.
SOURCE Investors Management Corporation