Goodwin Procter recently advised client Ark Holding Company on its acquisition by 4 West, an affiliate of Healthcare Navigator, for $525 million. The transaction was consummated simultaneously with a sale and leaseback financing transaction between Ark and Omega Healthcare Investors.
Ark Holding, based in Memphis, Tenn., was founded by private equity firm Behrman Capital in 2007. The company was one of the largest privately held skilled nursing facility operators in the United States.
4 West is based in White Plains, N.Y. and is an affiliate of Health Care Navigator, a long term care consulting and advisory company providing services to over 120 skilled nursing and assisted living facilities.
Omega Healthcare Investors, headquartered in Hunt Valley, Md., is a Real Estate Investment Trust providing financing and capital to the long-term healthcare industry. The company has a particular focus on skilled nursing facilities in the United States.
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company’s investments are primarily focused in five industries: health care, specialty manufacturing, business to business outsourcing, defense and information technology. The firm has raised five funds with a combined capital base in excess of $3.0 billion.
The Goodwin team advising on the transaction was led by A.J. Weidhaas and Stuart Rosenthal, and included Tim Hurley (Corporate), as well as Bill Weiss and David Patton (Tax) and Todd Hahn (Antitrust).
For more information, please read the Omega Healthcare press release.