Levine Leichtman Capital Partners has announced that it has sold its portfolio company Caring Brands International, Inc., a leading global franchisor of home healthcare services founded in 1966, to Wellspring Capital.
Levin Leichtman Capital Partners (LLCP) is a Los Angeles-based middle-market private equity firm with a 38-year track record of investing across various targeted sectors, including franchising, business services, education and engineered products. Since its inception, LLCP has managed approximately $12.7 billion of institutional capital across 15 investment funds and has invested in over 90 portfolio companies. Currently, LLCP manages $9.0 billion of assets.
Headquartered in Sunrise, Florida, Caring Brands International, Inc. (CBI) is the largest franchisor of home healthcare services globally and the only franchisor offering the full continuum of care at home, including skilled nursing, assistance with daily living activities and end-of-life hospice care. CBI offers franchises under three brands: Interim HealthCare, covering the United States and Saudi Arabia; Bluebird Care, covering the United Kingdom and Republic of Ireland; and Just Better Care, covering Australia. The three brands represent over 585 locations, operated by more than 290 franchise owners, and produce approximately $1.3 billion of annual systemwide sales.
The sale of CBI is LLCP’s eighth recent successful exit, following FlexXray, Trinity Consultants, Nothing Bundt Cakes, ZorgDomein, Jonathan Engineered Solutions, Futurewhiz and Pacific Handy Cutter.
Lincoln International served as a financial advisor, and Kirkland & Ellis LLP served as legal counsel to Caring Brands in connection with the sale.
