Levine Leichtman Capital Partners Acquires SYNERGY HomeCare to Expand In-Home Care Services

Major Acquisition in the In-Home Care Sector

On January 21, 2025, Levine Leichtman Capital Partners (LLCP), a private equity firm based in Los Angeles, announced its partnership with management to officially acquire SYNERGY HomeCare Franchising, LLC. This significant move marks a pivotal moment in the in-home care sector, enhancing LLCP’s investment portfolio which now integrates SYNERGY, a leader in providing non-medical home care services.

Founded in 1999 and headquartered in Tempe, AZ, SYNERGY HomeCare has established itself as a frontrunner in delivering a wide range of care services to seniors and individuals facing various health challenges. Currently, the organization operates over 240 franchises across approximately 550 territories in 42 states. Their offerings include personal care, companion services, memory care, and specialized care for clients recovering from illness or surgery, among other essential services.

LLCP’s acquisition is set to be collaborative, with SYNERGY’s management team remaining at the helm of operations. CEO Charlie Young, who leads the existing team, expressed enthusiasm about the partnership with LLCP, noting their shared vision to elevate SYNERGY’s service offerings and expand their market reach.

Matthew Frankel, Managing Partner at LLCP, highlighted his excitement in working with SYNERGY’s dedicated team, praising their impressive growth trajectory and the potential for future expansion. Frankel emphasized their commitment to enhancing SYNERGY’s labor force and addressing current healthcare challenges while providing world-class care to clients at home.

SYNERGY’s Growth and the In-Home Care Market

According to LLCP representatives, SYNERGY stands as one of the fastest-growing players in the in-home care industry, leading in territory expansion over recent years. This unique positioning, coupled with a diverse service portfolio, places the company to capitalize on the favorable trends within the industry characterized by increasing demand for quality home care.

As stated by Greg Flaster, Managing Director at LLCP, the intention is to leverage this advantageous position to support SYNERGY through its next growth chapter by optimizing existing operations and expanding their footprint across the nation. The focus will remain on integrating valuable tools and resources that will empower franchisees, thereby enhancing the service quality provided to clients.

SYNERGY's esteemed reputation, combined with LLCP's extensive experience in franchising businesses, particularly in the home care sector through previous investments in concepts like Senior Helpers and Caring Brands, makes this acquisition a mutually beneficial arrangement. This agreement will allow SYNERGY to further enhance its operational capabilities while focusing on improving access to essential home care services for more individuals across the country.

The Road Ahead

The operational strategy for the new partnership focuses on opening new markets, optimizing franchisee operations, expanding service offerings, and overall enhancing customer experience. LLCP’s involvement aims to fulfill the collective mission of improving care accessibility while driving operational growth.

In conclusion, this acquisition by LLCP signifies a committed push toward expanding the rapidly growing in-home care services market. With a concerted effort from the leadership team and LLCP’s strategic support, SYNERGY is poised for continued success in delivering exemplary care tailored to meet the needs of their diverse clientele across various states.

The transaction reflects LLCP's ongoing dedication to investing in dynamic, growth-oriented companies within the franchising sector. SYNERGY now stands as LLCP's eighth platform investment from their Lower Middle Market Fund III, L.P., reinforcing their substantial role in this vital industry.

About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC boasts a formidable 40-year history of investing in various sectors, emphasizing a structured private equity strategy that merges debt and equity investments. With extensive experience across several industry segments, LLCP continues to leverage its portfolio and expertise to drive growth in positioned investments across the market.