Engagement Results

Client:

Drayer Physical Therapy

Size:

Undisclosed – privately held company

Industry:

Health care

Expertise:

Leading physical therapy operation

Assignment:

A principal of MainStream Management was directly involved in the sale of a leading physical therapy company located in the mid-Atlantic region. The firm was owned by six principals who sought to create partial liquidity for their holdings while also retaining management responsibility for the growth of the enterprise in the future. An extraordinarily successful and well-managed company, the client was a highly attractive candidate for a potential majority sale to a private equity based firm.

Actions:

As head of investment banking for the middle market firm that was hired to assist in the transaction, the principal of MainStream was responsible for principal client interface; creation of a discrete but extensive marketing process; management of primary negotiations for the letter of intent; and assisting outside counsel in the closing of the transaction.

Results

A majority interest in the client was sold in the midst of one of the most challenging markets for M&A activity in the fourth quarter 2008. The client selected a private equity partner based on the firm’s familiarity with the industry and remained on board as the key drivers of the management of the enterprise.