Provides Credit Facility to Support Audax Private Equity’s Acquisition of PHOENIX Rehabilitation and Health Services
Summary
Chicago, Illinois, NXT Capital announced today that it has provided a senior secured credit facility to support Audax Private Equity’s acquisition of PHOENIX Rehabilitation and Health Services. “We are pleased to work with the NXT Capital team again,” said Mark Cordes, Managing Director, Audax Private Equity. “NXT’s experience in the healthcare services sector allowed for a quick and efficient closing and going forward, the NXT credit facility is structured to allow PHOENIX to continue with its growth plans.” Founded in 1997 and headquartered in Blairsville, PA, PHOENIX is a community of out-patient rehabilitation centers with over 80 locations across the East Coast of the U.S. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 220 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies.