February 2021: Stonehenge Partners (“Stonehenge”), a private equity firm based in Columbus, Ohio, is pleased to announce the sale of Queen City Hospice (“QCH”) to Addus HomeCare Corporation (“Addus”) for $192 million. The sale is Stonehenge’s third investment realization from Stonehenge Opportunity Fund IV. Stonehenge partnered with the management team to acquire QCH in January 2018 and exited its investment in December 2020.
Based in Cincinnati, Ohio, QCH is a provider of hospice services with a focus on compassionate, patient-centered care. At exit, QCH served more than 900 patients in the Cincinnati, Columbus, and Dayton markets through more than 600 employees.
Andrew Bohutinsky and Pete Davies, two of Stonehenge’s Managing Partners, served on QCH’s board of directors. Andrew Bohutinsky served as the board’s Chairman and provided strategic oversight during Stonehenge’s hold period. “It was our privilege to work alongside QCH’s management team to achieve our shared vision of becoming Ohio’s preeminent hospice provider,” said Andrew Bohutinsky. “Queen City Hospice’s tremendous growth over the last several years is a testament to Ohio communities’ recognition of our highly differentiated care model. We take great pride in having enhanced the standard of end-of-life care across Ohio.”
If you have information regarding new investment opportunities or strategic acquisitions for our portfolio companies, please contact one of the members of our team.
Investment Parameters
$1 billion of private capital under management
Flexibility to invest equity, debt, or any combination
Control or minority ownership equity investments
$5 million to $50 million targeted investment range
Buyouts, recapitalizations, and growth capital
Manufacturing, distribution, healthcare, and business services
Stonehenge Senior Investment Team
Andrew Bohutinsky, Managing Partner
Pete Davies, Managing Partner
Bob Eversole, Managing Partner
Tom Utgard, Managing Partner
Mike Arguelles, Managing Director
Keith Bishop, Managing Director
Sean Dunn, Director
Nathan McGill, Director
