TORONTO, Ontario (March 24, 2015) – Penfund, an independent provider of junior capital to middle market companies located in the United States and Canada, announced today the completion of a U.S. $37 million 2nd lien debt and equity investment in Pediatric Services Holding Corporation, the parent company of Pediatric Services of America, Inc., known as PSA Healthcare (“PSA”). PSA is a recently-acquired portfolio company of J.H. Whitney Capital Partners LLC (“J.H. Whitney”).
Headquartered in Atlanta, Georgia, PSA predominantly provides critically-needed home nursing services to medically fragile children. The company operates through over 65 offices across 17 states, employs over 5,000 nurses and other caregivers, and provides care to more than 2,500 patients.
John Bradlow, a partner at Penfund, stated “We are delighted to support J.H. Whitney in their acquisition of PSA. We believe the acquisition will allow PSA to continue delivering best in class clinical care to the families who need its services.”
About PSA Healthcare
PSA is a national home healthcare company managed predominantly by clinicians. PSA’s services provide care for medically fragile individuals of all ages in the comfort of their homes. PSA has more than 5,000 skilled caregivers, providing professional, high quality, private duty nursing to patients in over 65 locations serving 17 states.
About J.H. Whitney
J.H. Whitney was established in 1946 by the industrialist and philanthropist, John Hay “Jock” Whitney. J.H. Whitney was one of the first U.S. private equity firms and is often credited with pioneering the development of the private equity industry. Today, J.H. Whitney remains privately owned by its investing professionals and focuses on providing private equity capital to small and middle market companies with strong growth prospects in a number of industries including consumer, healthcare, specialty manufacturing and business services.
Website: www.whitney.comBack to All News
Penfund is a leading provider of junior capital to middle market companies throughout North America. The firm is owned by its management team and is currently investing its most recently established fund, Penfund Capital Fund VI. Penfund manages funds sourced from pension funds, insurance companies, banks, family offices and high net worth individuals and has invested more than $3 billion in over 225 companies since its establishment in 1979. Assets and capital under management currently total $1.5 billion.