First Citizens Bank’s healthcare finance business served as joint lead arranger and joint bookrunner on financing for The Halifax Group’s acquisition of the Worldwide Home Care division of Sodexo, a global home care services platform for personal and complex services for seniors and individuals with disabilities or chronic conditions.
Founded in 2009, the Worldwide Home Care division of Sodexo manages a portfolio of 10 brands across eight countries, each with a localized strategy to serve unique patient populations. The company operates through more than 700 locations and serves approximately 17,000 clients worldwide.
The financing will fund the acquisition of the Worldwide Home Care division of Sodexo and provide additional liquidity for general corporate purposes.
“The Worldwide Home Care division of Sodexo plays an important role in helping individuals across the globe to live independently in the comfort of their own homes,” Scott Plumridge, managing partner at The Halifax Group, said. “We appreciate the skillset and certainty of execution of the First Citizens Healthcare Finance team in arranging financing for this acquisition, which allows us to deliver exceptional service to more clients and families.”
“The Halifax Group is an experienced investor in the health and wellness, franchising and outsourced business services sectors,” William Douglass, group head and managing director of First Citizens Healthcare Finance, said. “We enjoyed working with them on financing for past strategic investments and acquisitions and appreciate the opportunity to work together again on their acquisition of the Worldwide Home Care division of Sodexo.”
“We are pleased to support The Halifax Group through the entire lifespan of this deal, from their initial review during the sale process to closing,” David Gibbs, managing director of healthcare finance at First Citizens, said. “This financing demonstrates our team’s ability to deliver on complex transactions that span multiple geographies and currencies.”
