Chicago, IL, November 13, 2020 — The Vistria Group (“Vistria”) announced an investment in Help at Home, LLC. (the “Company” or “Help at Home”) in partnership with Centerbridge Partners (“Centerbridge”). Help at Home is a leading U.S. provider of home care and community-based services in 13 states. The Company was founded in 1975 and provides a variety of medical and non-medical in-home care services across its footprint, caring for more than 60,000 clients across 155 locations.
Help at Home represents the final platform investment in Vistria Fund II, LP and the first investment for Vistria Fund III, LP. Centerbridge and Vistria will have equal board representation at Help at Home.
“For more than four decades, Help at Home has enabled seniors and people with disabilities to continue to lead independent lives in the familiar settings of their homes and communities. Now, with the COVID-19 pandemic, the in-home care we provide is more critical than ever because it allows these often vulnerable populations to receive care and support in the safety of their own homes,” said Help at Home Chief Executive Officer Paul Mastrapa. “We thank Wellspring for its stewardship over the past five years and look forward to partnering with the Centerbridge and Vistria teams to continue to build on our strong platform and further expand our services in the next phase of our company’s growth.”
Vistria has experience in identifying investment opportunities in the home and community-based services (“HCBS”) sector as care delivery has shifted broadly from institutionalized settings to home and community-based settings. In 2019, Vistria, in partnership with Centerbridge, acquired Civitas, (dba The Mentor Network) a leading national provider of home- and community-based health and human services to must-serve individuals with intellectual, developmental, physical or behavioral disabilities and other special needs.
“We have been tremendous supporters of superior home and community-based care opportunities and delivery, and we are looking forward to working with Help at Home to further that commitment.” added David Schuppan, Senior Partner at Vistria. “Help at Home is a leader in this pivotal shift in health care that is core to many of the areas we have been exploring – support of seniors and others with complex conditions in their preferred home- and community-based settings as we think there is a tremendous societal and economic value creation opportunity here.”
“We are excited to partner with Vistria again. Vistria’s healthcare experience, operating partner expertise and strategic relationships will be helpful as we jointly support Help at Home in its next phase of growth,” said Jeremy Gelber, Senior Managing Director at Centerbridge.
“Similar to our partnerships with Excellere and Apollo Global Management, we are excited to partner with Centerbridge for the second time. Our investment in Help at Home is a result of our theme-based investment approach and our strong and unique network. We are excited to support the Company in its next phase of growth. Consistent with our mission at Vistria, we are also looking forward to supporting Help at Home in its mission to make a positive impact in the lives of the individuals it serves,” said Kip Kirkpatrick, Co-CEO and Senior Partner at Vistria.
About Help At Home, LLC
Founded in 1975, Help at Home is a leading U.S. home care provider delivering in-home care to seniors and persons with disabilities. Headquartered in Chicago, Illinois, the company provides home and community-based services in 13 states: Alabama, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Mississippi, Missouri, Pennsylvania, South Carolina, and Tennessee. Help at Home has a long history of providing quality care to more than 60,000 clients in 150+ locations by its team of dedicated caregivers and administrative employees.
About The Vistria Group
The Vistria Group is a Chicago-based private investment firm focused on investing in middle market companies in the healthcare, education, and financial services sectors. Vistria’s team is comprised of highly experienced operating partners and private equity executives with proven track records of working with management teams in building innovative, market-leading companies.