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KRG Capital completes sale of ATI Holdings

KRG Capital Partners, a Denver-based buyout firm, has completed its sale of ATI Holdings to GTCR Golder Rauner.

The all cash sale represents KRG’s first full exit in its USD715m Fund III.

ATI is a provider of outpatient physical therapy services with an offering that includes physical rehabilitation, hand therapy, aquatic therapy, work conditioning/work hardening, sports medicine and functional capacity assessments.

Headquartered in Bolingbrook, Illinois, ATI has 88 canters in five states, with the bulk of them – 58 – in the Chicago area; six in Wisconsin, and the remainder in Pennsylvania, Maryland and Delaware.

ATI’s founder, Greg Steil, will remain chief executive and a significant individual equity holder. The company has 1,250 employees.

“ATI’s management team has done an excellent job executing our combined vision,” says Steve Neumann, a managing director at KRG Capital Partners. “Over the course of five years, KRG and ATI management have enjoyed a highly productive and collaborative relationship building ATI from ten centres to its current 88.”

“Joining forces with KRG enhanced our team’s ability to build the leading physical therapy company in the US,” says Steil. “We chose to work with KRG because of their unparalleled track record of helping management teams build true industry leaders.”

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