Alpha-Care acquires Peoria agency
CHAMPAIGN — Champaign-based Alpha-Care Health Professionals has acquired a Peoria home care agency, extending the territory Alpha-Care serves.
Alpha-Care acquired Circle of Life HomeCare on Dec. 31, picking up Circle of Life's 75 employees. That agency has served the Peoria area for more than 30 years.
"The entire Circle of Life management team, under the direction of CJ LeMasters, has been retained by Alpha-Care," the company stated in a release.
Alpha-Care, a regional home care agency, already served the Illinois communities of Champaign-Urbana, Danville, Decatur, Bloomington, Charleston and Yorkville as well as Covington, Ind.
David Line, president and co-owner of Alpha-Care, said the acquisition will improve Alpha-Care's coverage in the Peoria and Bloomington areas.
The addition of Circle of Life staff will push Alpha-Care's total full- and part-time employment to a level "approaching 500," Line said.
Line said the company expects to continue to use the Circle of Life name in the Peoria and Bloomington markets for a transitional period of one or two years and eventually move to the Alpha-Care name.
The acquisition was made with the financial backing of Armory Capital, a family investment office based in Champaign and founded by Jacob Ambrose, Rusty Freeland and Greg Lykins.
Armory Capital has a 51 percent stake in Alpha-Care. Line said the remaining 49 percent is owned individually by Line, Freeland, Lykins and Dennis Beard.
With backing from Armory Capital, Alpha-Care has completed five acquisitions and opened four new offices since 2006. Line said Alpha-Care is interested in buying additional agencies in the Springfield area.
According to Armory Capital's website, Armory's other portfolio companies include: Next Chapter Development, Austin, Texas; Jim's Formal Wear, Trenton; and Imperial Plastics, Lakeville, Minn.