The Edgewater Funds Announces Sale of Confluent Health to Partners Group
The Edgewater Funds (“Edgewater”) is pleased to announce the recent sale of its equity in portfolio company Confluent Health (“Confluent” or the “Company”) to Partners Group (SWX:PGHN).
Headquartered in Louisville, Kentucky, Confluent employs over 2,000 therapists and office professionals across three related operating segments including: outpatient physical therapy, occupational health & safety services, and education programs. The organization is led by President and Chief Executive Officer Larry Benz along with a team of experienced and talented managers.
Edgewater made its initial investment in Confluent in January 2016 and subsequently made an additional investment in Confluent in August 2017. Over the investment period the outpatient physical therapy segment grew from 70 clinics in 2015 to approximately 200 clinics in 2019 under CEO Larry Benz. Today, Confluent is one of the fastest-growing companies in the industry with a truly differentiated platform that delivers excellent patient care and business performance.
The Edgewater Funds is proud to have supported Confluent’s transformation and growth over the last few years. Confluent is another example of Edgewater partnering with a founder backed company in a less than 50% ownership position and executing our strategy to drive growth. We would like to thank the entire Confluent team and wish them the best as they continue their journey with Partners Group whom we believe is an exceptional firm and will again accelerate growth for Confluent.
“We would like to thank the Edgewater team for their support in transforming Confluent into one of the fastest growing and most reputable collection of physical therapist owned companies in the physical therapy profession. Edgewater has been a great partner and their backing has helped position Confluent for long term success” said Larry Benz President and Chief Executive Officer of Confluent.