Cressey & Co.-backed Encompass Home Health is borrowing $210 million, in part to help expand just what Encompass encompasses. LBO Wire’s Mohammed Sergie reports that in addition to paying off existing debt, the provider of home nursing services plans to use its new senior secured credit facility to fund an acquisition strategy that could deploy $35 million to $40 million of capital per year, according to CFO Bob Thompson.
Thoma Cressey Bravo acquired Compass in 2007 from Apax Partners, and Cressey retained full custody of the company after the buyout firm’s divorce from Thoma Bravo that year. No word on whether Thoma gets to visit on weekends.
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