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Senior Helpers, a Maryland-based franchisor of in-home senior care franchises, announced today that it has been bought out by private equity firm, Altarias Capital Partners, LLC.
The middle-sized franchisor says that it plans to use the money to accelerate the domestic and international expansion of the chain. Senior Helpers adds that its primary strategy for growth will be the acquisition of private in-home care companies.
The Timonium, Maryland-based franchisor currently supports more than 285 affiliated franchised locations across the United States, Canada and Australia as of today. It has no outlets of its own.
"With the considerable growth of an aging population, the need for in-home senior care is at an all-time high," said Peter Ross, CEO and co-founder of Senior Helpers. "We're excited to join Altaris' robust healthcare portfolio," said the CEO. He added, "With this move, we're primed to bring many more in-home care companies under the Senior Helpers umbrella and expand into new territories worldwide."
Senior Helpers was founded in 2001 with a vision to help incapacitated seniors remain in their homes. As of its most recent disclosure, the franchisor has 255 outlets operated by franchise owners at the end of 2015. The franchisor declared an average annual gross revenue (aka average gross sales) of $251,313 for its franchises that have been open between 12 to 23 months. Ten franchises fit into that group.