Livingstone gets ‘hands-on’ in GTCR recapitalization of ATI Physical Therapy
March 2010
Livingstone, the is pleased to announce that veteran private equity firm GTCR Golder Rauner, LLC (“GTCR”) has closed on the recapitalization of ATI Holdings, L.L.C. (“ATI”), a leading provider of comprehensive outpatient rehabilitation services, in partnership with ATI management.Livingstone acted as financial advisor to GTCR. GTCR’s investment will support ATI management with significant capital to fuel expansion of its network of physical therapy and outpatient rehabilitation centers.
“We are very excited to partner with such a stalwart and successful investor as GTCR and to begin our next phase of growth,” said Greg Steil, ATI Founder and CEO. “We are eager to continue to provide consistent, results-driven rehabilitative care and to expand in both existing markets and new states.”
Founded in 1996 near Chicago, ATI employs 1,250 professionals across 88 outpatient rehabilitation clinics throughout Illinois, Wisconsin, Delaware, Maryland, and Pennsylvania. The Company offers a full-suite of customized treatment programs, earning a strong reputation among patients, physicians, payors, and employers for providing high quality therapy services with superior patient outcomes.
“ATI's track record of growth, along with its ability to provide the best outpatient rehabilitation services, makes this an exciting investment for GTCR,” said David Katz, GTCR Principal. “ATI fits nicely with our historical focus on high quality, cost-effective healthcare providers.”
Livingstone’s relationship with ATI dates back to 2005 when Livingstone professionals advised management with respect to its recapitalization with Denver-based private equity firm KRG Capital Partners and, subsequently, its tuck-in acquisition of Delaware-based PRO Physical Therapy in 2006.
“We are thrilled to have helped forge a powerful local partnership between GTCR and our long-standing friends at ATI,” said Livingstone Partner David Sulaski. “This is an exciting union between a highly accomplished management team and a world-class growth investor.”
For further information contact:
David Sulaski
T: 312 670 5900
E: sulaski@livingstonepartners.com
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