JPB Partners, a leading equity investor in lower-middle market companies, is pleased to announce that it has sold Hometown Hospice & Homecare to St. Croix Hospice, a leading Midwestern hospice provider.
JPB invested in Hometown in March 2017 from its committed fund, JPB Capital Partners III, L.P. Hometown, headquartered in Brookfield, Wisconsin provides hospice and homecare to its valued patients through three locations strategically located across eastern Wisconsin. During its investment period, JPB worked with the agency to establish a five-year plan; to strengthen the management, operations and clinical teams; to improve IT systems; to grow its geographic reach; and, to achieve even higher levels of patient care and results.
“When we started working with Hometown, they were already a successful agency in the Milwaukee area,” said Mark Rohde, Sr., Managing Director at JPB Partners. “By aligning strategy, structure, systems, and people, we set a vison and a roadmap to guide Hometown’s growth moving forward. Hometown’s industry expertise coupled with JPB’s active value creation methodology made it an attractive strategic acquisition for St. Croix.”
“The results that Hometown has been able to achieve are precisely the reasons that we like to invest in the consumer sector,” added Jim Bolduc, Senior Managing Director at JPB Partners. “When you start with a strong brand and work in partnership with the founders, you can build a stronger brand, improve performance, and deliver even better strategic, operational, and financial results. Hometown is a solid example of the value that JPB Partners strives to achieve with its portfolio companies.”
“Working with JPB Partners was exactly what Hometown needed in March 2017 when we partnered,” observed Rich Firth, CEO of Hometown. “We had achieved success in our first four years and knew that we needed a partner to help us achieve the next levels of success. Our relationship was built on trust, confidence, a shared vision, and strategic objectives for what we could achieve together.”
About JPB Partners
JPB Partners is a leading equity investor in lower middle-market companies located in the Midwest, Mid-Atlantic, and Southeast U.S. and benefiting from the consumer economy. Since its founding in 1995, JPB has deployed over $200 million across 36 platforms in food, beverage, restaurant, personal care, retail and consumer health sectors. Representative past and present partner companies include Calgon Health and Beauty, St. Joseph’s Aspirin, Greene Turtle Sports Bar & Grille, Wythe Will Distributing, ZIPS Drycleaners, Ticknors Men’s Clothiers, South Moon Under, and Ted’s Bulletin.
About Hometown Hospice & Homecare
Founded in 2013, Hometown Hospice & Homecare provides hospice and homecare services through three locations strategically located across eastern Wisconsin. The Agency is certified by both Medicare and Medicaid. Hometown provides routine hospice services in homes, assisted living facilities (ALFs), and skilled nursing facilities (SNFs). In addition to routine services, Hometown offers a Life Enhancement Program that utilizes a holistic approach to patient care by incorporating lifelong interests into the hospice plan of care. From a homecare perspective, Hometown provides skilled nursing, physical therapy, occupational therapy, speech therapy, and home health aides tailors to meet the specific needs of each patient’s doctor-prescribed plan of care. Hometown is a Level Four “We Honor Veterans” Partner. Hometown is headquartered in Brookfield, Wisconsin and has locations in Fond du Lac, Wisconsin, and Racine, Wisconsin.
About St. Croix Hospice
Founded in 2008 and headquartered in Oakdale, MN, St. Croix Hospice provides best-in-class hospice care in the upper Midwest via a network of 27 office locations. The company cares for nearly 2,000 patients a day across 220+ counties in Minnesota, Iowa, Wisconsin, Nebraska, and Kansas. St. Croix supports patients, families, and caregivers 24 hours a day, 365 days a year through a holistic clinical and spiritual care model.
