• Business

    Athletico Management Holdings, LLC (“Athletico”) was a leading physical therapy business offering rehabilitation, outreach, and fitness services. The business was founded in 1991 by CEO Mark Kaufman, a licensed physical therapist and certified athletic trainer. It had, facilities across the Midwest and employs a team of specialists, which includes physical, and occupational therapists, certified athletic trainers, personal trainers, strength and conditioning specialists and massage therapists. In addition to facility-based rehabilitation services, Athletico provided athletic training, physical and occupational therapy, and fitness services through more than 180 affiliations, including high schools, colleges, and several major sports teams.

  • Harvest Partners Investment

    In May 2014, Harvest led the recapitalization of Athletico in partnership with management. To fund the acquisition, Harvest arranged the debt financing, including a revolver and term loan. In addition, Harvest arranged equity co-investment capital for the transaction. Harvest sold its investment in Athletico to BDT Capital Partners in December 2016.

  • Investment Thesis

    • Physical therapy is a large, fragmented, and growing market, which is well positioned to benefit from cost containment trends, demographics, and increasing patient access
    • Demonstrated track record of strong growth and high free cash flow generation based on consistent clinic performance and new clinic openings
    • Committed and talented management team