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Fortune magazine’s 2025 Best Workplaces in Aging Services list features an interesting name among its top performers: Senior Helpers, the home care franchise recently acquired by Chicago-based private equity firm Waud Capital Partners. The Maryland-based company’s inclusion demonstrates both its operational excellence and a distinctive approach to building portfolio companies that prioritizes culture alongside financial returns.
Senior Helpers earned recognition for its workplace environment across more than 380 franchised and corporate-owned locations spanning 44 states, Canada, and Australia. The company provides comprehensive services including meal planning, grocery shopping, medication reminders, transportation, companionship, and specialized programs for Alzheimer’s and Parkinson’s diseases. This breadth of services requires a sophisticated workforce capable of handling complex care situations while maintaining compassion and professionalism.
The Waud Capital Acquisition Approach
The March 2024 acquisition of Senior Helpers from Advocate Health marked a significant move for Waud Capital Partners. Unlike typical private equity transactions that often emphasize cost reduction and efficiency gains, the firm’s approach centered on growth and service enhancement. Peter Ross, CEO and Co-Founder of Senior Helpers, noted, “The need for high-quality, in-home senior care has never been greater. We see opportunities to enhance our suite of senior services as part of the next phase of the company’s growth.”
The installation of Steve Jakubcanin as Executive Chairman brought decades of operational expertise to Senior Helpers. Jakubcanin, an Executive Partner at Waud Capital, previously led successful transformations at companies like Cornerstone Healthcare and brings deep understanding of both clinical operations and business scaling. His appointment signals commitment to operational improvement rather than financial engineering alone.
This approach embodies the investment philosophy of Reeve Waud, who founded Waud Capital Partners in 1993. Throughout his career leading over 500 acquisitions, Reeve Waud has emphasized partnering with existing management teams rather than replacing them. This continuity helps preserve organizational culture while providing resources for expansion and improvement.
Cultural Preservation Under PE Ownership
The Fortune recognition validates an unusual aspect of this private equity transaction: the preservation and enhancement of workplace culture post-acquisition. Senior Helpers maintained its existing brand identity, leadership structure, and operational autonomy within the newly formed Altocare holding company. This contrasts with consolidation approaches that typically involve aggressive integration and standardization across acquired properties.
Chris Graber, a Partner at Waud Capital who leads the firm’s healthcare investment team, explained this philosophy: “Our partnership with Senior Helpers is another key example of the Waud Capital strategy of matching experienced executive talent with industry-leading companies in sectors where we have deep conviction.” Rather than imposing cookie-cutter management systems, the firm adapts its approach to each portfolio company’s unique strengths.
The workplace recognition also indicates continued investment in employee development and support systems. Senior Helpers has maintained its training programs for caregivers, including specialized education for neurological conditions. These investments in human capital complement Reeve Waud’s broader healthcare portfolio approach, which recognizes that quality care delivery depends fundamentally on workforce capability and satisfaction.
Lessons from Long-Term Value Creation
Senior Helpers represents Waud Capital’s seventh investment in the home care and post-acute space, building on success stories across the healthcare continuum. This depth of experience, guided by Reeve Waud’s three-decade track record, provides pattern recognition for what drives sustainable value in healthcare services. The firm’s most notable healthcare success, Acadia Healthcare, which Reeve Waud founded in 2005 and took public in 2011, demonstrated that maintaining care quality while scaling operations creates superior long-term returns.
The Fortune recognition arrives at a critical juncture for the home healthcare industry, as providers face workforce shortages and regulatory pressures. By demonstrating that private equity ownership can enhance rather than diminish workplace culture, the Senior Helpers example offers a template for sustainable growth in healthcare services. As Reeve Waud continues building the Altocare platform through additional acquisitions, maintaining this balance between financial performance and employee satisfaction will determine whether the initial success proves replicable across a larger enterprise.
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