Thoma Cressey Equity Partners-Backed CLP Completes Second Acquisition
NASHVILLE, Tennessee–December, 14, 2006–CLP Healthcare Services Inc., (dba “Cloverleaf Partners”), a company focused on providing high-quality hospice and palliative care, has acquired Community Hospices of America Inc., (“CHA”), a Birmingham, Ala.-based hospice provider with 25 locations in nine states. This is Cloverleaf Partners’ second transaction in the execution of its strategy of building a leading national hospice and palliative care provider.
“We are very excited to have the opportunity to combine the two companies,” said Jim Deal, CEP of Cloverleaf Partners. “CHA has an outstanding reputation as a hospice provider, with sound performance and an outstanding management team. We believe the combination of our two companies produces one of the premier hospice providers in the country.”
Cloverleaf was formed in 2006 though a partnership between Deal and Thoma Cressey Equity partners, a leading private equity firm with more than 25 years of experience building industry leaders Line other Thoma Cressey-led “buy and build” transactions, Cloverleaf Partners will leverage the strength of its platform companies to build a leading hospice and palliative care provider through operation improvements, organic growth and strategic acquisitions.
“Thoma Cressey recognizes the growing need for high-quality hospice care and formed Cloverleaf Partners with an exceptional management team to build an industry leader,” said Brian Cressey, managing partner for Thoma Cressey. “The combination of Cloverleaf Partners and CHA is representative of our traditional buy-and-build strategy We view the addition of CHA as an excellent step toward the building of a hospice and palliative care provider of national significance.”
About CLP Healthcare Services Inc. (dba “Cloverleaf Partners”)
Cloverleaf Partners was formed in 2006 through a partnership with Thoma Cressey Equity Partners. CLP Healthcare Services Inc. operates 29 hospices in 10 states serving approximately 1,700 patients. The company is based in Nashville, Tenn.
About Thoma Cressey Equity Partners, Inc.
Thoma Cressey Equity Partners is a leading private equity investment firm with more than 25 years of experience in building successful companies. The firm has invested in many industry sectors and currently specializes in the software healthcare, business services and consumer products and services industries. Recognized nationally for pioneering the “industry consolidation” or “buy and build” strategy, Thoma Cressey identifies high-potential industry sectors to partner with successful companies and build industry leaders through organic growth, operational improvements and strategic acquisitions. Thoma Cressey currently manages approximately $2 billion in a services of private equity funds. For more information please visit www.thomacressey.com