Enhabit acquired by Kinderhook Industries

The middle-market private equity firm Kinderhook Industries, LLC formally executes the acquisition of Enhabit, Inc. in an all-cash transaction valuing the healthcare provider at an enterprise value of €1–10bn. Reaching definitive terms that secure a purchase price of $13.80 per share in cash, the financial sponsor successfully orchestrates the complete privatization of the formerly publicly traded clinical operator. This finalized equity pricing structure represents a 24.4% premium over the target's closing stock price recorded on February 20, the final full trading day prior to the initial deal announcement, alongside a 33.8% premium to the 60-day volume-weighted average share price. Effective immediately upon the transaction's close, which is officially slated for the second quarter of 2026, the acquired entity will be formally delisted from the New York Stock Exchange. The strategic rationale articulated by the acquiring investment board explicitly focuses on providing the target with the institutional capital required to execute long-term investments in clinical excellence, entirely shielded from the short-term financial pressures inherent to public equity markets. Under this new private ownership structure, the healthcare operator will strictly retain its established corporate name and brand identity across its national network. The ownership transition coincides with a planned executive leadership shift, as the target's current Chief Executive Officer previously scheduled her departure for July 2026. To facilitate this complex take-private operation, the targeted company mandated Goldman Sachs & Co. LLC to serve as its exclusive financial advisor, while retaining Jones Day for comprehensive legal counsel and Joele Frank, Wilkinson Brimmer Katcher for strategic communications. Conversely, the acquiring financial sponsor secured exclusive financial advisory services from the investment bank Guggenheim Securities, LLC, alongside rigorous legal structuring oversight provided by Kirkland & Ellis LLP. Ultimately, this multijurisdictional leveraged buyout actively integrates a highly scaled home health platform into the buyer's expansive healthcare services portfolio.