Encore Rehabilitation Gets Investment From Michigan Opportunities Fund

Glencoe Capital’s Michigan Opportunities Fund said it completed an investment in Encore Rehabilitation Services, LLC. No terms were disclosed. The Encore investment is the seventh by the Michigan Opportunities Fund.

PRESS RELEASE

Glencoe Capital Invests In Encore Rehabilitation Services
Healthcare services platform investment will grow Michigan-based company

(December 18, 2012) – Glencoe Capital’s Michigan Opportunities Fund has closed on an equity investment in Farmington Hills-based Encore Rehabilitation Services, LLC.

Encore is a leading Midwestern provider of rehabilitative therapy services to skilled nursing and assisted living facilities. Encore employs more than 1,700 people, with a large portion of them based throughout Michigan.

”With skilled nursing facilities’ need for therapeutic services for the country’s growing, aging population, we believe Encore is well positioned for expansion,” said David Evans, Glencoe Capital’s Chairman.

“Encore has a sterling reputation in the healthcare space as a quality provider of therapy services, and the increasing demand for rehabilitative therapy provides opportunity for Encore,” said Jason Duzan, Managing Director of Glencoe Capital. “We are pleased to invest in a well-established Michigan-based business and to support a successful management team.”

“Encore had other partnership opportunities, but ultimately we felt Glencoe Capital’s investment strategy ensured the continuity of our management team and our workforce and provided additional resources to generate sustainable growth,” said Linda Shackelford, Encore’s President and Chief Executive Officer. “This partnership will help us enter new markets, enhance our customer and employee satisfaction, and, most importantly, achieve superior clinical outcomes for our patients.”

Glencoe Capital’s investment in Encore is the seventh by its Michigan Opportunities Fund. Other companies in the Fund’s portfolio include Campbell Grinder, a Spring-Lake, Mich. based designer and manufacturer of high-precision grinding machines; Flatout, a Saline, Mich. based producer of flatbread for retail stores; NOVO 1, a provider of inbound call center solutions with a facility in Holland, Mich.; Moosejaw, a leading multi-channel retailer of premium quality outdoor apparel and equipment based in Madison Heights, Mich.; Budco, a business processing outsourcing company based in Highland Park, Mich.; and American Education Group, an operator of pre-K through grade 12 schools for specialized learning, headquartered in Grand Rapids, Mich.

ABOUT GLENCOE CAPITAL

Founded in 1993, Glencoe Capital is a private equity firm focused on lead-sponsored acquisitions and growth equity investments in lower middle-market companies. The firm manages over $650 million of committed capital and has completed acquisitions representing more than $1.5 billion of transaction value across its four private equity funds. The firm has offices in Chicago, Ill. and Birmingham, Mich.

Glencoe Capital’s Michigan Opportunities Fund makes buyout and growth equity investments in Michigan companies or companies that can expand into Michigan with EBITDA in excess of $3 million and with minimum equity capital of $7 million.  The Fund’s objective is to generate strong returns for investors and grow the next generation of Michigan companies.  For more information, please visit www.glencap.com.