Golub backs healthcare company and PE firm partnership

The lender is providing senior credit for a rehabilitation business’s partnership with Sterling Partners.

Golub Capital, the US mid-market lender, has closed on a deal for a senior secured credit facility to assist in the partnership between Results Physiotherapy and private equity firm Sterling Partners, Golub announced last week (10 October). Golub acted as the joint lead arranger and book runner on the deal, the amount of which was not disclosed.

Results Physiotherapy is a provider of outpatient rehabilitation services that operates out of Nashville, Memphis, Chattanooga, Louisville, Raleigh, Huntsville, Knoxville and the Tri-Cities. The company specializes in manual therapy treatment of post-surgical patients, neck and back pain, sports injuries, motor vehicle accidents, workman’s compensation, arthritis, headaches, running injuries, TMJ, women's health and a variety of conditions. 

“Results is a market leading therapy service provider with a unique manual therapy focus that is valued by patients and major payors,” Brian Crabb, managing director at Golub Capital, said in a news release. “We are excited to partner with Sterling Partners and the management team to continue to grow the business.” 

Sterling also announced its partnership with Results last week. The PE firm is a returning client of Golub’s. Sterling focuses on investing growth capital in small and mid-market companies in industries with positive, long-term trends including healthcare, education and business services. The firm provides support to the management teams of its portfolio companies through a dedicated team of operations and functional experts based in the firm’s offices in Chicago, Baltimore and Miami. 

Golub Capital’s mid-market lending team structures financing solutions with hold positions of up to $250 million. The team also underwrites and syndicates senior credit facilities and a proprietary suite of GOLD (one-loan debt) facilities, of up to $500 million. The firm has $10 billion in capital under management and operates across its three main business lines: mid-market lending, broadly syndicated loans and opportunistic credit. The firm has offices in New York, Chicago and San Francisco.