Funds managed by middle-market private equity firm Lee Equity Partners (Lee Equity) have invested in Therapy Partner Solutions (TPS), a physical therapy platform in the Southeastern US.
TPS employs a diversified operating model delivering physical therapy services across three divisions: Clinic Partnership, Management Services and Performance Solutions.
Steve Chenoweth, co-founder and CEO, will continue to lead the Company, while the entire senior management team, along with existing investor Walnut Grove Capital Partners, have retained a meaningful equity investment in the business.
Financial terms of the transaction have not been disclosed.
Livingstone served as exclusive financial advisor to TPS and Arnall Golden Gregory, LLP served as TPS’ counsel. Greenberg Traurig LLP served as legal counsel to Lee Equity.