Penfund, an independent provider of junior capital to middle market companies located in the U.S. and Canada, completed a $75 million second lien debt investment in Aveanna Healthcare.

Aveanna was formed through the merger of Epic Health Services and PSA Healthcare and is owned by Bain Capital Private Equity, J.H. Whitney Capital Partners, management and other investors including Penfund.

Atlanta, GA-based Aveanna is the largest pediatric home healthcare company in the U.S. providing essential nursing services to medically fragile children in 23 states.

Penfund is a provider of junior capital to middle market companies throughout North America. The firm is owned by its management team and is currently investing its most recently established fund, Penfund Capital Fund V, which has $724 million of committed capital.

“We are pleased to support Aveanna Healthcare as it joins two best-in-class operators in Epic and PSA,” stated Nicole Fich, a partner at Penfund. “Penfund has previously had the pleasure of partnering with PSA on multiple occasions and we believe the merger will allow Aveanna to deliver high quality, comprehensive care to pediatric patients and provide critical support to their families.”