Firm to Exit Stake in Advanced Medical Personnel Services after
Four-Year Investment
STAMFORD, Conn.–(BUSINESS WIRE)–Clearview Capital Fund III, L.P. (“Fund III”), an affiliate of Clearview
Capital, L.P. (“Clearview Capital”), today announced the signing of a
definitive purchase agreement to sell Advanced Medical Personnel
Services, Inc. (“AMPS” or the “Company”), a healthcare staffing company,
to AMN Healthcare Services, Inc. (NYSE:AMN), the nation’s leading
innovator in healthcare workforce solutions and staffing services. The
sale price is $200 million, with up to an additional $20 million to be
paid based on AMPS’s 2019 financial performance. The transaction is
expected to close in early June and is subject to customary closing
conditions.
AMPS is an innovative healthcare staffing company specializing in the
placement of therapists and nurses in contract positions across multiple
settings including hospitals, schools, clinics, skilled nursing
facilities, and home health. The Company recently launched a platform
that serves the needs of children within large school districts through
both on-site and telehealth therapists. AMPS currently has an annualized
run rate of approximately $140 million in revenue and adjusted EBITDA of
$20 million. The Company is headquartered in Port Orange, Florida.
“With AMPS, we immediately saw an opportunity to partner with a
highly-talented management team, led by the Company’s CEO, Jennifer
Fuicelli, to quickly build a larger organization in a highly-fragmented,
growing industry,” said Matthew W. Blevins, a Partner at Clearview
Capital. “In almost exactly four years, we were able to close three
complementary add-on acquisitions, while investing in continued organic
growth initiatives such as expansion into the attractive school staffing
segment, resulting in revenue and EBITDA more than tripling during our
investment.”
“Clearview Capital has been instrumental in supporting our management
team’s long-term vision for the Company,” said Ms. Fuicelli. “In
addition to providing the necessary capital to support acquisition
growth, Clearview Capital was willing to invest in new service lines and
capabilities, including investments in new recruiters, to accelerate
growth in the school staffing market, and investments in teletherapy
technology to further differentiate AMPS in the marketplace.”
“The sale of AMPS will mark our third successful exit from Fund III,”
commented Calvin Neider, Managing Partner and co-Founder of Clearview
Capital. “We have thoroughly enjoyed our strategic partnership with Jenn
and the entire AMPS team, and wish all the best for the Company as it
joins forces with one of the largest and most prominent healthcare
staffing organizations in the country.”
Fund III, a $325 million vehicle raised in 2013, invested in AMPS in May
2015.
About Advanced Medical Personnel Services (AMPS)
AMPS
is a healthcare staffing company that specializes in placing outstanding
therapists and nurses in contract and permanent positions across the
United States. AMPS works with Occupational Therapists, Physical
Therapists, Speech Language Pathologists, and Nurses who are passionate
about helping members of its communities live happier, healthier, and
fuller lives. AMPS connects talent with opportunities in multiple
settings and placements; from hospitals, clinics, skilled nursing
facilities, home health, and schools. For more information, please visit www.gowithadvanced.com.
About Clearview Capital
Founded in 1999, Clearview Capital
is a private investment firm specializing in the acquisition and
recapitalization of lower-middle market companies in North America in
the business services, healthcare services, manufacturing and
specialized distribution industries. Since inception, the Clearview
Capital team has completed more than 100 transactions in a wide variety
of industries. Clearview Capital is currently making investments from
Clearview Capital Fund IV, L.P., a $550 million vehicle. The firm is
headquartered in Stamford, Connecticut and has an additional office in
Los Angeles, California. For more information, please visit www.clearviewcap.com.
Contacts
Caroline Collins
BackBay Communications
(617) 963-0065
[email protected]
