Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide, today announced it has successfully facilitated the sale of Opis Senior Services Group, one of Florida’s leading providers of long-term and post-acute care, comprised of 10 skilled nursing facilities, an assisted living facility, comprehensive rehabilitation, advanced practitioner services and community-based services in locations throughout Central Florida. The strategic buyer was Citadel Care Centers, which provides a comprehensive roster of services and premium level of healthcare in caring, compassionate, and cheerful environments. Cassel Salpeter advised Opis Senior Services in the transaction.
Opis approached Cassel Salpeter to assist them in finding a suitable buyer during very difficult times. It was a complicated situation given the ongoing coronavirus pandemic and its impact on the facilities. Opis prioritized finding a buyer that would carry on its long tradition of quality care and its reputation as one of the premier operators in the country. Cassel Salpeter identified Citadel Care Centers as the optimal candidate to carry the legacy forward. Citadel already owns and operates multiple nursing homes and care centers in Florida, as well as in other parts of the U.S., and has an extensive track record of providing a high standard of care.
“In spite of all the challenges presented by COVID-19, Cassel Salpeter worked tirelessly to adapt to these changes and continue to provide exceptional solutions for our client,” said James S. Cassel, chairman and cofounder of the investment banking firm. “With the sale to Citadel Care Centers, Opis Senior Services Group have found a knowledgeable buyer aware of the value and importance of the services Opis provides to its patients, and one that will continue and expand upon the seller’s mission.”
The Cassel Salpeter deal team was Chairman James Cassel, Managing Director Philip Cassel, Vice President Laura Salpeter, and Associate Edward Kropf. The legal team for Opis was Paul Singerman, Phyllis Bean, Michael Levinson, and Christopher Jarvinen of Berger Singerman LLP. Salvatore Cuccia of SDC & Associates, Inc. acted as advisor to the company. Bryan Rotella of GenCo Legal, Eric Boyer of Quintairos, Prieto, Wood & Boyer, P.A., and Stephen Grave de Peralta of PG Law acted as the company’s outside legal counsel. The lawyers for Citadel were Aaron Rokach and Adam Kornblatt of Gutnicki LLP.
About Cassel Salpeter & Co.
Cassel Salpeter & Co. LLC is an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide. Together, the firm’s professionals have more than 50 years of experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Cofounded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. Personally involved at every stage of all engagements, the firm’s senior partners have forged relationships and completed hundreds of transactions and assignments nationwide. The firm’s headquarters are in Miami. Member FINRA and SIPC. More information is available at www.CasselSalpeter.com