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.
- 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