H.I.G. Capital, a leading global private equity investment firm, has announced that its growth capital investment affiliate, H.I.G. Growth Partners, has completed the sale of its portfolio company, Just Home Healthcare Services (JHC). Lincoln International LLC and Edgemont Partners provided financial advisory services for these transactions while McDermott Will & Emery LLP served as legal counsel to JHC.
The firm acquired JHC from the company's founder in January 2017. During its ownership, H.I.G. facilitated significant growth by appointing a new COO and CFO, expanding Group Home services, increasing personal home care census hours by 33%, and achieving a doubling of both revenue and EBITDA. According to a press release by H.I.G. Capital, it divested JHC in two phases: the Personal Home Care and Adult Day Health segments were sold in April 2023 and the Group Home and Independent Living Program segments in October 2023.
Mark Tricolli, Managing Director at H.I.G. Growth, expressed his pride in the JHC team's dedication and expertise. "Their commitment to their clients, clinical quality, and operational know-how helped us partner effectively and build a strong company that serves residents across New Jersey," Tricolli said.
JHC is based in Fair Lawn, NJ, where it specializes in providing medically-focused adult day health and in-home personal care services for the elderly and intellectually and developmentally disabled individuals. According to information provided by H.I.G. Growth Partners on the Just Home Healthcare Services webpage, JHC's integrated model offers a cost-effective alternative to institutional settings which meets the growing demand for community-based services while aligning with payors' cost management strategies in a fragmented industry.
Zhanna Basina, JHC’s founder and CEO spoke highly of their partnership with H.I.G., saying they were an exceptional partner that helped strategically expand new service lines and improve operational performance. "Their team demonstrated deep understanding of the home and community-based services industry, helped us navigate challenges during the COVID-19 pandemic, and made sure that our clients received consistent, high-quality care," Basina said.