Ally Corporate Finance served as agent, lead arranger, and sole book runner on the senior credit facility. Revelstoke Capital Partners and other institutional co-investors participated in the deal, whose amount was not disclosed.
Following the close of the transaction, the management of the company will continue to operate the business on a day-to-day basis. Revelstoke will provide strategic guidance and additional capital to accelerate the company’s growth and will leverage its transactional experience and network of industry contacts to pursue add-on acquisitions and organic geographic expansion.
Founded in 2004 and led by David Van Name, CEO, Upstream is a national provider of a comprehensive set of outpatient rehabilitation services, including free-standing physical therapy clinics, outpatient rehabilitation management services and a member network of rehabilitation service providers.
It operates more than 300 owned and managed clinics across a 23 states.