WP Global Partners Exits Investment in Upstream Rehabilitation

On November 20, 2019, WP Global exited its investment in Upstream Rehabilitation (“Upstream”), a leading operator and manager of outpatient physical therapy clinics. WP Global co-invested in Upstream in December 2015 alongside Revelstoke Capital Partners. Upstream is now the third largest operator of outpatient physical therapy clinics in the United States, having grown the number of clinics it owns and manages from about 200 to 700 during WP Global’s ownership.

The management team has successfully executed a two-pronged growth strategy: add-on acquisitions and de novo clinics around existing locations. Notably, Upstream made a significant and highly strategic acquisition of Drayer Physical Therapy in 2018, doubling the size of the company and paving a path for further growth. The company also runs one of the best de novo programs in the industry, fueled by physical therapists that are incentivized through minority interests in locations they open and manage. Additionally, the overall growth of the company was further accelerated by strong same-store visit growth.

About WP Global Partners

WP Global Partners is a private markets firm focused on investing in operating companies with enterprise values under $250 million via both direct and fund vehicles across both private equity and debt strategies. WP Global has invested almost $4 billion into over 80 companies and over 130 small to mid-market funds.

2019-12-19T13:58:59+00:00 December 19th, 2019|Comments Off on WP Global Partners Exits Investment in Upstream Rehabilitation