Houlihan Lokey Advises St. Croix Hospice

Houlihan Lokey is pleased to announce that St. Croix Hospice (St. Croix), a portfolio company of The Vistria Group (Vistria), has been acquired by H.I.G. Capital (H.I.G.).

Founded in 2008 and based in Oakdale, Minnesota, St. Croix is a leading provider of hospice care across the Midwest, serving an area that covers six contiguous states.

Vistria is a Chicago-based private investment firm focused on investing in middle-market companies in the healthcare, education, and financial services sectors. Its team comprises highly experienced operating partners and private equity executives with proven track records of working with management teams in building innovative, market-leading companies.

H.I.G. is a leading global private equity and alternative assets investment firm with more than $41 billion of equity capital under management*. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta, as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, and São Paulo, the company specializes in providing both debt and equity capital to small- and mid‐sized companies, utilizing a flexible and operationally focused/value‐added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion.

This transaction further strengthens Houlihan Lokey’s leadership position in the hospice and home care sector, having advised on seven transactions in the past three years. Houlihan Lokey’s Healthcare Group is among the largest dedicated healthcare investment banking teams in the country. In 2019, the group closed 27 transactions and was ranked the No. 1 advisor for U.S. healthcare M&A transactions by Refinitiv (formerly known as Thomson Reuters). Houlihan Lokey’s Healthcare Group has closed more than 300 M&A healthcare transactions since inception.

Houlihan Lokey served as the financial advisor to St. Croix and assisted in initiating, structuring, and negotiating the transaction on its behalf. TripleTree and Edgemont served as financial advisors to H.I.G.

* Based on total capital commitments managed by H.I.G. and affiliates.

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