What did Revelstoke Capital Partners pay for Upstream Rehabilitation?

Revelstoke Capital Partners acquired Upstream Rehabilitation for $1.40B in 2019 (14.5x EBITDA), equivalent to 2.90x revenue. Target revenue was approximately $490.0M. Target EBITDA was approximately $96.2M.

What does Upstream Rehabilitation do?

Upstream Rehabilitation is a physical therapy business.

What multiple did Revelstoke Capital Partners pay for Upstream Rehabilitation?

14.5x EBITDA and 2.90x revenue, based on disclosed deal value of $1.40B and disclosed financials.

M&A TRANSACTION · 2019

Upstream Rehabilitation acquired by Revelstoke Capital Partners

$1.40B· 14.5x EBITDA· 2.90x revenue

Target

Upstream Rehabilitation

Acquirer

Revelstoke Capital Partners

Private Equity buyer

Disclosed financials at time of acquisition

Revenue

$490.0M

EBITDA

$96.2M

Deal Value

$1.40B

EV/EBITDA

14.5x

Context

This $1.40B acquisition of Upstream Rehabilitation by Revelstoke Capital Partners sits in the physical therapy sub-vertical. The 14.5x EBITDA multiple paid in 2019 can be compared against the population median for physical therapy transactions of similar size on our Physical Therapy valuation hub. Revelstoke Capital Partners is acquiring as a private equity buyer; see how PE acquirers typically price physical therapy businesses on our Physical Therapy PE buyer-pool page.

Source

Data sourced from Bond rating releases and press reporting. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology

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Citation: ExitValue.ai. (2019). Upstream Rehabilitation acquired by Revelstoke Capital Partners. https://exitvalue.ai/deals/upstream-rehabilitation-acquired-by-revelstoke-capital-partners-hc-2019-0140