ATG Rehab to 'transform' industry with private equity firm's help
ROCKY HILL, Conn. - ATG Rehab has a new majority investor: Boston-based Audax Private Equity.
The complex rehab provider announced last week that Audax, an investor in middle-market companies with a reputation for "spurring growth and creating value," has replaced its four founders as majority investors. Chuck Wallace, Mike Freedman, Tim Burfield and Bryan Cressey will remain "significant minority investors," according to a release.
"We are excited to be investing in an industry leader that holds key process and strategic advantages in an industry poised for continued growth," stated Audax Group Co-CEO Geoffrey Rehnert.
Also part of the shake up: Paul Bergantino, who has served as ATG Rehab's president for the past five years, will succeed Burfield as CEO.
"Audax Group shares ATG Rehab's vision of transforming the complex rehab industry," Bergantino stated. "Our plan is to continue to lead consolidation efforts within the industry, expanding both our physical presence and focus on providing excellent service and support to our customers."
Burfield will continue to chair ATG Rehab's board and be involved in its strategic development.