CHARLOTTE, NC (October 19, 2021) – Ridgemont Equity Partners, a middle market private equity investor, today announced the acquisition of Agape Care Group (“Agape Care” or the “Company”). Agape Care is a leading provider of hospice and palliative care in the Southeast, with a deep presence across South Carolina and Georgia. The Company offers full end-of-life care for members of its community both in patient homes and healthcare facilities.
“Agape Care is a remarkable operation that balances the great responsibility of providing the highest quality care for its patients and families with a strong growth-oriented business backbone,” said Dan Harknett, Partner at Ridgemont. “We are excited to be investing in a platform with a very solid foundation and talented management team, led by CEO Troy Yarborough, and continuing to grow the Company together. Ridgemont has spent years exploring opportunities in the hospice sector and believes that Agape Care is in a position to meaningfully increase its geographic footprint with a focus on hospice and palliative care acquisitions across the Southeast.”
“We are fortunate to have found a great new partner in Ridgemont with a similar culture and vision as our Agape Care team,” said Troy Yarborough, CEO of Agape Care Group. “We are focused on preserving the roots of our localized patient care in each community that we serve, which starts with fostering a workplace that highly values integrity and compassion and constantly seeks different ways to improve our offering and operation. Together with Ridgemont, we’ll expand our presence and continue our legacy of providing superior patient and family experiences during critical life moments.”
Financing for the transaction was provided by Antares Capital, Crescent Direct Lending, Churchill Asset Management, Audax Private Debt and Pathway Capital Management. Edgemont Partners and Dechert LLP served as financial and legal advisor, respectively, to Ridgemont. Harris Williams and Cain Brothers, a division of KeyBanc Capital Markets, served as financial advisors and Winston & Strawn LLP served as legal advisor to Agape Care and their prior financial sponsor, The Vistria Group. Financial terms of the agreement were not disclosed.