Apr 1 2010
KPS Capital Partners, LP ("KPS") announced today that its portfolio company Attends Healthcare, Inc. ("Attends") has completed a successful recapitalization. Attends raised $98 million of new financing, including a $20 million asset-based revolving credit facility and $78 million in term loans. Proceeds of the recapitalization were used to refinance outstanding debt, to fund a $60 million cash distribution to stockholders and to fund the Company's continued growth.
Following the recapitalization, Attends remains conservatively capitalized with the continued support of KPS, its majority shareholder, a private equity firm with over $2.6 billion of committed capital. KPS and Attends management continue to own 100% of Attends' common stock following the recapitalization.
The asset-based revolving credit facility was provided by Wells Fargo Capital Finance, and the term loan financing was provided by Regiment Capital Special Situations Fund IV, L.P. Lincoln International acted as exclusive financial advisor to the Company and privately placed the financing.
K&L Gates LLP served as legal counsel to Attends with respect to the recapitalization.
SOURCE KPS Capital Partners, LP
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