Lincoln International Represents Cardinal Equity Partners in the sale of Advanced Physical Therapy to GTCR-backed ATI Physical Therapy
Lincoln International, a leading global mid-market investment bank, has announced that Advanced Physical Therapy (“Advanced” or the “Company”) has been sold to ATI Physical Therapy (“ATI”), a portfolio company of Chicago-based private equity firm GTCR. Advanced was a portfolio company of Cardinal Equity Partners (“Cardinal”), a private investment partnership located in Indianapolis, Indiana that is focused on high-quality lower and middle market businesses in the Central U.S.
Based in Indianapolis, Indiana, with over 20 outpatient and client-site therapy clinics located throughout the state, Advanced is Indiana’s leading independent provider of outpatient physical therapy, occupational hand therapy and workers compensation rehabilitation. Additionally, the Company’s Advanced Worksite Solutions business segment provides onsite corporate wellness and ergonomic consulting for corporate clients.
ATI provides comprehensive outpatient rehabilitation services across 100+ clinics throughout Illinois, Wisconsin, Delaware, Maryland, and Pennsylvania, with 4 pre-existing locations in Indiana.
Lincoln International acted as the exclusive financial advisor to Cardinal and Advanced, working closely with the company’s management team and shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
About Lincoln International
Lincoln International specializes in merger and acquisition advisory services, debt advisory services, private capital raising and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions, valuations and pension advisory services on a wide range of transaction sizes. With twelve offices, three in the Americas, two in Asia, and seven in Europe, and strategic partnerships with leading institutions in China and Korea, Lincoln International has strong local knowledge and contacts in the key global economies. The firm provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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