Minority Stake Recapitalization Jordan Health Services
In March 2007, Trinity Hunt invested over $15 million in Jordan Health Services to support Jordan's acquisition of Chartwell Community Services. Jordan has been a family-run home healthcare business since 1975. Having a dominant market position in East Texas, Jordan wanted to acquire Chartwell to expand its home health services footprint to the entire state of Texas. Instead of pursuing the opportunity independently and risking the possibility of overleveraging the company, Chairman Mike Jordan decided to sell a significant minority stake to Trinity Hunt. By doing so, Mike Jordan was able to access the equity capital required to consummate the Chartwell acquisition while maintaining majority control of his business. A portion of Trinity Hunt's investment proceeds were paid directly to existing Jordan shareholders, thereby enabling them to receive compensation for the value they had created at capital gains tax rates. Trinity Hunt led the Chartwell acquisition due diligence and negotiations on behalf of the company. Going forward, Jordan will benefit from the capital resources and strategic guidance of Trinity Hunt as the company expands its operations.
