Stonehenge Partners, Inc. (“Stonehenge”), has acquired Queen City Hospice and Capital City Hospice (“Queen City” and “Capital City”) to support the management team in the continued growth of the business as well as to fund buyout of the two shareholders. Footprint Capital, LLC (“Footprint”) acted as the buy-side advisor.
Queen City operates within the Cincinnati market, while Capital City Hospice operates within Columbus and Central Ohio. The companies specialize in providing physical and emotional care for individuals with an advanced illness. This business will serve as Stonehenge’s platform investment in the hospice industry, with the expectation to grow organically and through acquisition.
Andrew Bohutinsky, Managing Partner of Stonehenge remarked, “Footprint Capital was integral to Stonehenge’s success in identifying, negotiating and closing the acquisition of Queen City. GBQ’s attention to detail and dedication to meet a compressed timeline were also crucial. We look forward to having both firms as partners as we support the company’s future growth.”
Jim Vannelle, who will lead Queen City and Capital City as President, added “Footprint Capital took the time to understand our culture and philosophy in order to align us with the financial partner that shared the same. Josh and Wade provided us with the necessary resources and advice every step along the way. We are excited about our partnership with Stonehenge and the future of Queen City Hospice Holdings, LLC. I wish to send a heartfelt thank you to Footprint for making this come together.”
Stonehenge Partners seeks to make investments ranging from $5 million to $35 million of equity/junior capital to support management buyouts, leveraged acquisitions, recapitalizations, and growth capital financings. Stonehenge prefers businesses operating in manufacturing, distribution, business services, and healthcare. For more information, visit: www.StonehengePartners.com.
Queen City and Capital City Hospice specialize in providing physical, emotional, and spiritual care for individuals with an advanced illness as well as emotional and psychosocial support for their families. The companies are dedicated to providing patient-centered care and support to residents of the Greater Cincinnati and Columbus areas. Whether patients live in a private residence, an assisted living community, or a nursing home, Queen City and Capital City’s well-trained and experienced team members will go to the patient’s location to provide personalized assistance and care. For more information, visit: www.QueenCityHospice.com or www.CapitalCityHospice.com.
Footprint is a boutique investment bank focused on advising owners and operators of privately held companies in the middle market. Footprint’s services include sell-side and buy-side merger and acquisition advisory, ownership transition planning, capital raising, and strategic management consulting.