Paul Hastings Aids PE Firm's Exit From Nursing Home Operator

Law360, New York (December 10, 2012, 4:19 PM EST) -- Midmarket private equity firm GI Partners said Monday it will sell Plum Healthcare Group LLC to Bay Bridge Capital Partners, earning nearly three times its invested capital in the California-based portfolio of nursing and hospice services.

Financial details were not disclosed, and both parties declined to comment on Plum's annual revenues. GI did say that the company had grown revenues by 32 percent and earnings before interest, taxes, depreciation and amortization by 30 percent annually since the original investment in 2006.

Plum owns and operates 50...
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