12/19/2013

F.N.B. Capital Partners Announces New Investment in Home Care Delivered, Inc.

FNBCP Invests in Home Care Delivered, Inc.

Pittsburgh, Pennsylvania - F.N.B. Capital Partners, L.P.  ("FNBCP") is pleased to announce the successful closing of its fourth investment in its new SBIC fund, Home Care Delivered, Inc. (“HCD”).  FNBCP supported the recapitalization through a mezzanine investment that provided liquidity to exiting shareholders and positioned the Company for future growth.  FNBCP is a $175 million fund, licensed as a Small Business Investment Company ("SBIC") and managed by Tecum Capital Management, Inc.

“We are extremely excited to enter into this partnership with HCD Management,” noted Stephen Gurgovits, Jr., Managing Partner of FNBCP.  “We believe the Company’s technology platform positions HCD advantageously in the marketplace, and we are excited about the growth prospects in the home medical supplies segment.”  Cohen & Grigsby and McGuire Woods served as FNBCP’s valued legal advisors on this transaction.  “In addition to our legal advisors, it was a pleasure working with HCD’s financial advisor, Marriott & Co. and partnering with the senior lender, Capital One” added Matthew Harnett, Partner of FNBCP.

Founded in 1996, HCD is a leading, direct-to-customer provider of home medical supplies to customers across the U.S, many of whom are enrollees under the federal Medicare or state Medicaid programs.  The Company offers a wide array of name-brand products across multiple chronic care categories, including incontinence, diabetes, ostomy, urology, wound care, and oral nutritional.