Houlihan Lokey Advises Jordan Health Services

Houlihan Lokey is pleased to announce that Jordan Health Services (Jordan), a portfolio company of Palladium Equity Partners, LLC (Palladium) has been acquired by Kelso & Company (Kelso) and Blue Wolf Capital (Blue Wolf). The transaction closed on May 15, 2018.

Headquartered in Addison, Texas, Jordan provides skilled nursing, therapy, personal care, and hospice services to over 39,000 patients across Texas, Oklahoma, Louisiana, Arkansas and Missouri. Through its three primary service offerings, Jordan provides care to patients in the form of home health, hospice, and community care.

In conjunction with the acquisition of Jordan, Kelso is partnering with Blue Wolf to merge Jordan with Blue Wolf's portfolio company, Great Lakes Caring, creating one of the largest home health providers in the United States. The combined company will have 221 locations across 15 states, serving 63,000 patients daily.

Kelso is a North American-focused, middle market private equity firm. Having invested more than $12 billion of equity in over 120 companies throughout its 38-year history, Kelso seeks to create value through partnership and alignment of interests between the firm, its investors, and company management.

Blue Wolf Capital is a private equity firm specializing in control investments in middle market companies. With over $1.2 billion under management, Blue Wolf manages challenging situations and complex relationships between business, customers, employees, unions, and regulators to build value for stakeholders.

Palladium is a middle market private equity firm with more than $2.7 billion of assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance, and operational oversight. Since its founding in 1997, Palladium has invested approximately $1.9 billion of capital in 30 platform investments and more than 100 add-on acquisitions. The firm focuses primarily on buyout equity investments in the range of $50 million to $150 million. The principals of the firm have significant experience in consumer, services, industrials, and healthcare businesses, with a special focus on companies they believe will benefit from the growth in the U.S. Hispanic population. Palladium is based in New York City.

This deal represents a significant milestone for both Palladium and Jordan, who partnered to accelerate growth through investment in corporate infrastructure, diversification into new business lines and execution on over 30 acquisitions since December 2010, while affirming Houlihan Lokey's leadership position in the home health sector, having advised on over 120 transactions in the healthcare services space.

Houlihan Lokey served as the lead financial advisor to Palladium and Jordan in this transaction.