Capital One Provides $600MM Revolving LOC to Addus HomeCare

Capital One served as lead arranger and administrative agent for a $600 million revolving line of credit for Addus HomeCare.

With 210 offices in 22 states, Addus HomeCare is a provider of personal care services as well as hospice and home health services. Over the past two years, the company has acquired seven personal care companies and four home health/hospice companies. An established Capital One client, Addus HomeCare plans to deploy the additional liquidity to support M&A opportunities in its pipeline.

“The strong capital markets response reflects the growing momentum that Addus has achieved in the past few years,” Jeffrey Hoffman, managing director at Capital One Healthcare Finance, said. “The strong topline growth it reported in 2020, despite disruption from COVID-19, underscores the resilience of its business.”

Addus HomeCare has turned to Capital One for financing several times since 2017.

“It has been very important for us to have a sophisticated financial partner with the industry knowledge to appreciate our business model as we implement our strategy,” Dirk Allison, CEO of Addus HomeCare, said. “Capital One’s ability to provide exceptional turnaround and flexibility is yet another reason why we continue to rely on them for our financing.”