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Advent International to Acquire Majority Stake in US Rehabilitation Therapy Provider
Wednesday 30 March 2016

30 March 2016 - Private equity investment company Advent International has agreed to acquire a majority ownership interest in US-based physical therapy provider ATI Physical Therapy from US-based private equity firm KRG Capital Partners, the company said.
Financial terms were not disclosed.
ATI's current management team, led byDylan Bates, will retain a significant minority stake in the company and continue to lead ATI.
The transaction, which is subject to regulatory approval and other customary closing conditions, is expected to be completed in 2Q16.
Founded in 1996, ATI is a rehabilitation provider, specialising in research-based physical therapy, workers' compensation rehab, employer worksite solutions and sports medicine.
It operates more than 500 clinics conveniently located in high-traffic areas across 19 US states and the company is in each of its top nine markets, with No.1 or No.2 positions by store count.
In 2015, ATI's facilities served nearly 300,000 unique patients.
As part of the transaction, Advent operating partner Dr. Chris Krubert will join ATI's board of directors.
Jefferies and UBS are serving as financial advisors and Hogan Lovells is serving as legal advisor to ATI on the transaction.
Barclays is serving as financial advisor and Weil, Gotshal and Manges LLP and McDermott Will and Emery are serving as legal advisors to Advent.
Details
Date Published: 30/03/2016
Target: ATI Physical Therapy
Country: USA
Sector: Healthcare
Type: LBO
Financing:
Status: Agreed
Vendor:
Buyer: Advent International
Buyer Advisor: Barclays , Weil, Gotshal and Manges LLP , McDermott Will and Emery
Comment:
Terms of the deal were not disclosed

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