Clairvest Completes Growth Equity Investment into Mountain Land Physical Therapy, Its Third Medical Practice Management Partnership
July 06 2023 - 5:00PM
Clairvest Group Inc. (TSX: CVG) (“CVG”) today announced that it,
together with Clairvest Equity Partners VI (“CEP VI”, collectively
“Clairvest”), has made a minority equity investment in Mountain
Land Physical Therapy (“Mountain Land”).
Mountain Land is an outpatient physical therapy
business with 41 clinics located in the Mountain West region of the
United States. Mountain Land was founded in 1984 and is led by
Chief Executive Officer Rick Lybbert and Chief Operating Officer
Jason Lobb, both of whom are physical therapists and have been with
the business for 30+ and 20+ years, respectively. Rick, Jason and
other owners will be rolling substantially all of their equity
alongside Clairvest and will retain a majority ownership position.
Mountain Land has a long-standing history and strong reputation
within its current geographic footprint.
This represents Clairvest’s third partnership in
the medical practice management domain.
“We are thrilled to be backing a fully invested
and experienced management team in this minority partnership deal.
Mountain Land has a proven operating model, top-tier clinical
compliance and a stellar reputation in the marketplace,” said Angus
Cole, Managing Director of Clairvest.
“Our vision is to continue expanding throughout
the Mountain West region to positively change as many lives as
possible. We will continue to create value by providing excellent
patient care, growth opportunities to our employees, and a
values-driven culture that establishes trust. We are excited to
have Clairvest join the Mountain Land Team; they bring valuable
experience and expertise that will ensure our vision becomes a
reality,” said Rick Lybbert, CEO of Mountain Land.
The Mountain Land Physical Therapy investment is
Clairvest’s 63rd platform investment and 12th investment in the
Clairvest / CEP VI co-investment pool which is capitalized at
US$850 million.
About ClairvestClairvest’s
mission is to partner with entrepreneurs to help them build
strategically significant businesses. Founded in 1987 by a group of
successful Canadian entrepreneurs, Clairvest is a top performing
private equity management firm with over CAD $4.3 billion of
capital under management. Clairvest invests its own capital and
that of third parties through the Clairvest Equity Partners limited
partnerships in owner-led businesses. Under the current management
team, Clairvest has initiated investments in 63 different platform
companies and generated top quartile performance over an extended
period.
Contact InformationStephanie
LoDirector of Investor Relations & MarketingClairvest Group
Inc.Tel: (416) 925-9270stephaniel@clairvest.com
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