Weil advised the Goldman Sachs Merchant Banking Division and Drayer Physical Therapy Institute, LLC (DPTI) in its sale to Upstream Rehabilitation Inc. (Upstream), a portfolio company of Revelstoke Capital Partners. DPTI is a leading owner and operator of outpatient physical therapy clinics primarily focused on treating sports-related injuries and orthopedic disorders. Certain DPTI shareholders, including the Goldman Sachs Merchant Banking Division, rolled over a portion of their proceeds in exchange for a minority ownership stake in Upstream. Financial terms of the transaction were not disclosed.
The Weil team that advised the Goldman Sachs Merchant Banking and DPTI was led by Private Equity partner Christopher Machera and included Private Equity associates Peter Milligan, Arnie Fridhandler, Sean Fitzpatrick, Michael Linneman (Not Yet Admitted in New York) and Emmanuel Charles (Not Yet Admitted in New York); Banking & Finance partner Allison Liff; Technology & IP Transactions partner Jeffrey Osterman; Tax partner Mark Schwed; Executive Compensation & Benefits Head Paul Wessel; Securities Litigation partners Jonathan Polkes and Miranda Schiller; Antitrust counsel Vadim Brusser; Employment Litigation counsel Lawrence Baer; Banking & Finance associate Justina Chen; Technology & IP Transactions associates Dennis Adams and Alexa Rozell; Tax associate Steven Ort; Executive Compensation & Benefits associates Zahava Blumenthal and Corinne Nhaissi; Employment Litigation associates Thomas McCarthy and Marissa Flood; and Securities Litigation associate Ondrej Staviscak Diaz.