Rehab therapy management provider acquired
Capital One Healthcare served as administrative agent and lead bookrunner for a $110.5 million senior secured credit facility to support the acquisition of Spectrum Professional Services by an investor group.
Spectrum Professional Services provides rehabilitative therapy management and consulting services. The investor group, Beecken Petty O'Keefe & Company, has invested in numerous provider, manufacturing, outsourcing, distribution and information technology companies through growth equity, management buyouts and leveraged recapitalizations.
“We believe that the terms of this acquisition position Spectrum to meet the surge in demand for rehabilitative therapy services over the next decade,” said John Heller, Spectrum Professional Services President and CEO. “The Capital One Healthcare team knows both parties well, so when it was time to execute the debt financing, they were able to move quickly and implement a successful syndication.”