NEW YORK, Jan. 26, 2021 /PRNewswire/ — Grant Avenue Capital, LLC, www.GrantAve.com, a healthcare-focused private equity firm, announced today that it acquired a majority interest in Valeo Home Health and Hospice, based in Salt Lake City, Utah. The acquisition represents the firm’s first step in a broader home-based care buy and build initiative.
Founded in 2011, Valeo is a highly regarded provider of patient-focused home health and hospice services. Grant Avenue Capital is acquiring the business from Eduro Healthcare, a leading owner and operator of skilled nursing facilities. Certain individual shareholders of Eduro will continue to have a minority ownership stake in Valeo. Additional information about Valeo is available at www.valeohh.com.
This transaction marks Grant Avenue Capital’s fourth corporate carve-out since its launch in 2019 and is a further example of the firm’s operational and execution capabilities.
In conjunction with the acquisition of Valeo, Grant Avenue Capital has launched a broader buy and build initiative to complete targeted acquisitions and strategic partnerships in the home-based care sector. Members of the firm have a long history of successfully investing in the category starting in the early 2000’s and across numerous, industry-leading companies.
“Valeo’s dedicated leadership, operations, and clinical teams provide outstanding care to patients and their families, as exemplified by its expansion of services during 2020 to serve those particularly hard-hit by COVID,” said Buddy Gumina, founder and managing partner of Grant Avenue Capital. “Going forward, we plan to accelerate the expansion of both Valeo and our overall home-based care platform through continued investment in strategic acquisitions, partnerships and de novo launches.”
About Grant Avenue Capital LLC
Grant Avenue Capital is a healthcare-focused, middle-market private equity firm targeting investments alongside forward-thinking management teams that seek an experienced and innovative investor with highly flexible capital, both in terms of duration and structure. While a typical investment will involve companies generating approximately $5 million to $25 million of EBITDA, Grant Avenue Capital has significant support to complete larger transactions through strategic co-invest relationships. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, joint-control partnership investments, and special situations.
The healthcare and life sciences M&A markets were active in 2020 and transaction activity is robust and growing in 2021, even amid the COVID-19 pandemic. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
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