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Nolan & Associates is pleased to announce that it exclusively advised Caring Companions in its sale to Chemed

Decatur, IL (July 1, 1999) – Nolan & Associates is pleased to announce that it advised Caring Companions of the Northshore, Inc. (Caring Companions) in its sale to Chemed (NYSE: CHE).

Our Client: Caring Companions of the Northshore

  • Caring Companions, based in Chicago, IL, is a home healthcare service provider.
  • Caring Companions was born out of owners’ passion for parish volunteering as they saw a need in the space, and sacrificed time, invested tremendous effort, and built a great and caring business providing in-home healthcare.

Objectives of Caring Companions of the Northshore

  • Cultural fit of the successor Company was as important to the business partners as was sale price and terms.
  • The owners took pride in treating their employees well, which would be a significant factor in their decision making during the sell side process.

Solution: Sale to Chemed

  • Nolan marketed Caring Companions’ culture of caring to generate strong investment interest by several regional hospital organizations.
  • Among the numerous respondents, Patient Care raised interest, but drew a great deal of skepticism from Caring Companions’ owners as they were not already operating in the home healthcare space.
  • Patient Care is a subsidiary of New York Stock Exchange listed Chemed (NYSE: CHE), and Chemed had another subsidiary, Roto-Rooter, a plumbing services company.
  • Despite the doubt from Caring Companions, Nolan organized meetings between the owners of Caring Companions and Patient Care, resulting in an acquisition due to instant synergies and values discovered between the two parties.

Sell Side Process Results

  • Nolan offered not only the price and terms but also diligently worked with the owners to find the perfect fit for Caring Companions.
  • The Nolan process created a sense of scarcity, competition and momentum which resulted in a competitive sell side process and delivered the maximum outcome the market had to offer.

About Nolan & Associates

Nolan & Associates is a boutique investment banking firm providing Mergers & Acquisitions and Capital Raise advisory services to middle market business owners and buyers.  Founded in 1976, Nolan is broadly recognized as a leading investment banking firm with Midwestern roots and global reach.  The Nolan team has completed hundreds of transactions in the middle market while working collaboratively from its offices in St. Louis, MO and Decatur, IL.

Securities offered through Middle Market Transactions, Inc.  Member: FINRA/SIPC.

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