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The Secured Lender
SFNet's The 81st Annual Convention Issue
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December 11, 2023
Source: First Citizens Bank
NEW YORK, Dec. 7, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business served as joint lead arranger and joint bookrunner on financing for The Halifax Group's acquisition of the Worldwide Home Care division of Sodexo, a global home care services platform for personal and complex services for seniors and individuals with disabilities or chronic conditions.
Founded in 2009, the Worldwide Home Care division of Sodexo manages a portfolio of 10 premium brands across eight countries, each with a localized strategy to serve unique patient populations. The company operates through over 700 locations and serves approximately 17,000 clients worldwide.
The financing will fund the acquisition of the Worldwide Home Care division of Sodexo and provide additional liquidity for general corporate purposes.
"The Worldwide Home Care division of Sodexo plays an important role in helping individuals across the globe to live independently in the comfort of their own homes," said Scott Plumridge, managing partner at The Halifax Group. "We appreciate the skillset and certainty of execution of the First Citizens Healthcare Finance team in arranging financing for this acquisition, which allows us to deliver exceptional service to more clients and families."
"The Halifax Group is an experienced investor in the health and wellness, franchising and outsourced business services sectors," said William Douglass, group head and managing director of First Citizens Healthcare Finance. "We enjoyed working with them on financing for past strategic investments and acquisitions and appreciate the opportunity to work together again on their acquisition of the Worldwide Home Care division of Sodexo."
"We are pleased to support The Halifax Group through the entire lifespan of this deal, from their initial review during the sale process to closing," said David Gibbs, a managing director of Healthcare Finance at First Citizens. "This financing demonstrates our team's ability to deliver on complex transactions that span multiple geographies and currencies."
First Citizens Healthcare Finance provides comprehensive financing and banking solutions to middle market healthcare companies across the U.S. Using a client-focused and industry-centric model, Healthcare Finance can tailor its products and services to help clients meet their needs for growth capital.
About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., and now celebrating the 125th anniversary of its founding, First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches and offices in 30 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets. Discover more at firstcitizens.com.
MEDIA RELATIONS:
Lexa Tutela Losey
212-461-5305
Lexa.tutela@firstcitizens.com
