Guardian Home Care Holdings sold to AccentCare

Dec 24 2010

Friedman Fleischer & Lowe ("FFL") today announced that it has sold Guardian Home Care Holdings, Inc. ("Guardian" or "the Company"), a leading provider of home care and hospice services, to AccentCare Inc., one of the nation's fastest growing home healthcare companies. Terms of the transaction were not disclosed.

“With the support of FFL's expertise and guidance, we have significantly grown revenues and profitability over the past 5 years. Most importantly, we have been able to focus on providing compassionate, personalized care, and we look forward to continuing to serve our patients and their families as part of AccentCare.”

FFL's initial investment in Guardian was in 2005. During its five-year ownership period, the company more than doubled in size through a combination of both internal growth and a successful add-on acquisition strategy. Internal growth was driven by strong organic growth trends, the development of new service lines (such as Hospice) and de novo office expansion within existing markets, whereas acquisitions allowed the Company to expand its geographic reach from Texas into both Tennessee and Georgia.

"We value our partnership with FFL which has been instrumental in helping us to provide our clients with high quality and cost-effective services," said Judy Bishop, Chief Executive Officer of Guardian Home Care. "With the support of FFL's expertise and guidance, we have significantly grown revenues and profitability over the past 5 years. Most importantly, we have been able to focus on providing compassionate, personalized care, and we look forward to continuing to serve our patients and their families as part of AccentCare."

"We have greatly enjoyed working with the Guardian team," said Rajat Duggal, Managing Director at FFL. "They are dedicated professionals committed to growing the business and creating value for their investors, while never wavering from the objective of providing patients with the highest quality care. Judy Bishop, in particular, has demonstrated exceptional leadership skills and remains a key reason for the performance of the Company and the success of our investment."

SOURCE Friedman Fleischer & Lowe, LLC