Advent International (New York, NY) agreed to acquire a majority ownership interest in ATI Physical Therapy (Bolingbrook, IL) from KRG Capital Partners (Denver, CO). ATI’s current management team, led by Dylan Bates, will retain a significant minority stake in the company and continue to lead ATI. Financial terms were not disclosed. The transaction is subject to regulatory approval and other customary closing conditions. It is expected to be completed in Q2 2016.