Caltius Mezzanine Provides $35.0 Million to Select Rehabilitation, Inc
January 21, 2012
Caltius Mezzanine is pleased to announce that it has provided $35.0 million to Select Rehabilitation, Inc. (“Select”). The financing was used by Select to repay Select’s existing debt and to acquire EnduraCare Therapy Management.
Headquartered in Northfield, Illinois, Select provides physical, occupational and speech therapy services to patients residing in skilled nursing facilities. Select employs over 5,000 individuals and serves over 450 nursing facilities throughout 28 states.
“Caltius has been a dependable and responsive financial partner to Select over the years, and we immediately turned to Caltius to meet our expanded financing needs,” said Neal Deutsch, Chief Executive Officer of Select. “Caltius provided Select with a capital solution that enabled speed and surety of close and positioned our company for the next phase of growth.”
“Select Rehabilitation has proven its ability to improve the efficiency and profitability of therapy services at the skilled nursing facilities where it operates and, more importantly, improve the level and quality of rehabilitation care received by patients,” noted Michael Kane, Managing Director of Caltius Mezzanine. “We look forward to supporting Select as it broadens its geographic footprint throughout the nation.”
Based in Los Angeles, Caltius Mezzanine provides innovative capital solutions in amounts of $10 to $100 million to middle market companies throughout North America. Since its founding in 1997, Caltius Mezzanine has invested over $800 million in a broad range of industries to support acquisitions, recapitalizations, buyouts, and organic growth. Caltius Mezzanine is currently investing out of its fourth fund, Caltius Partners IV, LP, a $500 million fund that closed in May 2008. For more information or to refer an investment opportunity, please call us at (310) 996-9585.