GTCR Announces It Has Divested Its Interest in ATI to KRG Capital Partners
December 21, 2012
GTCR, a leading private equity firm, announced today it has divested its interest in ATI Physical Therapy, Inc. (“ATI”) to KRG Capital Partners (“KRG”). Headquartered in Bolingbrook, Illinois, ATI operates physical therapy clinics in seven states and is one of the leading providers of outpatient rehabilitation services in the U.S.
ATI was founded in 1996. In 2010, GTCR partnered with Greg Steil, founder and CEO of ATI, to continue to grow the company into an industry-leading outpatient rehabilitation services business. Under GTCR’s ownership, ATI grew from 86 clinics to 188 clinics through de novo openings and strategic acquisitions.
“We congratulate the ATI team today on the successful sale of the company to KRG Capital Partners,” said GTCR managing director David Katz. “We have enjoyed an outstanding partnership with Greg Steil, Dylan Bates, John Egofske and the rest of the management team, and we wish the company well in its new partnership with KRG.”
“We are pleased to complete the transition of our partnership to KRG,” said Mr. Steil, founder and CEO of ATI. “We thank GTCR for its commitment to our business as we’ve partnered to significantly grow the company in less than three years. Our management team looks forward to working with KRG to continue this growth.”
Jefferies Group, Inc. served as ATI’s financial advisor, and Kirkland & Ellis, LLP provided legal counsel.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Information Services & Technology, Financial Services & Technology and Healthcare industries. The Chicago-based firm pioneered The Leaders StrategyTM—finding and partnering with management leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $10 billion in over 200 companies. For more information, please visit www.gtcr.com.