The Latest Ownership: Waud Capital Partners
As of March 2024, Waud Capital Partners, a Chicago-based private equity firm, is the owner of Senior Helpers. This acquisition occurred after Advocate Health decided to shift its strategy from direct ownership of home care services to partnering with providers. Waud Capital aims to grow the company and enhance its services. Steve Jakubcanin joined as Executive Chairman, while co-founder Peter Ross remains CEO.
The Journey from Founders to Private Equity
Senior Helpers was founded in 2002 by Peter Ross and Tony Bonacuse to provide quality in-home senior care. They started franchising in 2005. Over time, ownership transitioned through several private equity firms:
- 2012: Levine Leichtman Capital Partners acquired a majority stake.
- 2016: Altaris Capital Partners became the owner.
- 2021: Advocate Aurora Enterprises, part of Advocate Aurora Health, acquired the company.
- March 2024: Following a merger, the larger Advocate Health system sold Senior Helpers to Waud Capital Partners.
The Roles of Key Leadership Figures
Despite changes in ownership, key leaders have provided continuity.
- Peter Ross: As co-founder, Peter Ross has consistently served as CEO through various ownership transitions, maintaining the company's mission focus.
- Steve Jakubcanin: With the Waud Capital acquisition, Steve Jakubcanin, experienced in healthcare and home care, became Executive Chairman.
A Comparative Look at Ownership Structures
Different ownership models influence a company's focus and strategy. Here's a comparison:
| Feature | Founder-Led (2002-2012) | Health System-Owned (2021-2024) | Private Equity-Backed (2024-Present) |
|---|---|---|---|
| Focus | Mission-driven, focused on initial service gaps, building the brand. | Integration with broader healthcare ecosystem, coordinating care. | Growth-oriented, strategic investment, scaling services and profitability. |
| Funding | Self-funded initially, growing through franchising. | Access to capital from a large non-profit health system. | Significant capital injection from investment partners. |
| Decision-Making | Hands-on, rapid adaptation by founders. | Slower, more integrated with larger system priorities. | Strategically driven by investors and executive leadership. |
| Innovation | Ground-floor development of care models like Senior Gems®. | Synergy with clinical services and telemedicine offerings. | Enhancing service suites and operational efficiencies. |
Understanding the Services Offered
Senior Helpers continues to offer services aimed at helping seniors age independently, including:
- Companion Care
- Personal Care
- Specialized Care for conditions like Alzheimer's and Parkinson's
- Wellness Services
- Transportation
Looking Ahead for Senior Helpers
Waud Capital's acquisition indicates a focus on expansion and service enhancement. Their expertise, combined with Peter Ross's leadership, is expected to drive future growth. While ownership has changed, the core mission of providing quality in-home care remains central. For more details on the recent acquisition, read the coverage from Fierce Healthcare: Advocate Health sells home care franchise to PE firm.
Conclusion: A New Chapter with Experienced Backing
Senior Helpers has a history of growth and ownership changes since 2002. The acquisition by Waud Capital Partners in 2024 brings experienced private equity leadership with a focus on strategic expansion. With co-founder Peter Ross continuing as CEO, the company's commitment to quality in-home care persists. This new era combines institutional backing with established operational expertise.
