M&A · Healthcare · Services-Home Health Care Services
Kinderhook Industries, LLC to acquire Enhabit, Inc.
Announced Feb 23, 2026 · Closed May 15, 2026
Deal value$698MEV $1.11B
Premium24.4%To unaffected price
EV / Adj. EBITDA10.9x1.1x EV / Revenue
ConsiderationAll cash$13.80 per share
Transaction
- Acquirer
- Kinderhook Industries, LLC
- Target
- Enhabit, Inc. (EHAB)
- Buyer type
- Private equity
- Offer price per share
- $13.80
- Enterprise value
- $1.11B
- Status
- Closed May 15, 2026
Deal protections
- Break fee (target pays)
- $24.5M · 3.5%
- Reverse fee (buyer pays)
- $44.6M · 6.4%
- Go-shop
- No-shop
- Financing
- Committed · Goldman Sachs
Advisors
- To the acquirer
- Guggenheim
- To the target
- Goldman Sachs
Sector context · Healthcare
- Comparable deals
- 95 in the prior 24 months
- Premium
- 24.4% vs. 60.0% sector median
- EV / Adj. EBITDA
- 10.9x vs. 14.5x sector median
- Break fee
- 3.5% vs. 3.3% sector median
Timeline
- AnnouncedFeb 23, 2026
- Proxy filedMar 30, 2026
- Definitive proxyApr 14, 2026
- Shareholder voteMay 12, 2026
- ClosedMay 15, 2026
Valuation · fairness opinions
Discounted cash flow$10.41$16.26
Future share price$13.28$21.51
Precedent transactions$12.72$29.57
Premiums paid$12.45$19.61
Offer $13.80
Implied value per Enhabit, Inc. share by analysis, from Goldman Sachs · DCF discount rate 11.5%–14.5%.