Quipt Home Medical to be Acquired by Affiliates of Kingswood and Forager for $260 Million

Quipt Home Medical Corp. (QIPT) entered a merger agreement on December 15, 2025, to be acquired by Kingswood Capital Management and Forager Capital Management in a deal valued at $260 million.

Deal Structure:

A special purpose acquisition vehicle (Purchaser), to be funded by affiliates of each of Kingswood Capital and Forager Capital, will acquire, in an all-cash transaction, all of the issued and outstanding common shares of Quipt for $3.65 per share, representing a premium of 39.31% from the stock’s last close.

Company Profile:

Quipt is a U.S.-based provider of in-home medical equipment, respiratory therapy, and chronic disease management services, focused on patients with conditions such as heart and pulmonary disease, sleep disorders, and reduced mobility.

Kingswood is a Los Angeles–based private equity firm that invests in middle-market companies and manages approximately $3.2 billion in assets under management (AUM).

Forager Capital Management is an investment advisory and hedge fund firm based in Birmingham, Alabama, that focuses on research-driven public equity investing, particularly in undervalued mid- and small-cap companies. It manages around $200 to $350 million in assets under management (AUM).

Deal Details and Timeline:

In May, Quipt Home Medical received an unsolicited, non-binding proposal from Forager to acquire the company for $3.10 per share. The stock was trading at $2.14 prior to the offer being made.

Kingswood has delivered an equity commitment letter to fund the Purchaser’s obligations under the deal.

The deal is expected to close during the first half of 2026.

Truist and Evans & Evans served as financial advisors to Quipt, and DLA Piper acted as its legal counsel. UBS was the financial advisor to Kingswood, with McDermott Will & Schulte and Fasken Martineau DuMoulin serving as its legal counsel.

The deal values Quipt at 4.74 times its EBITDA.

Deal Metrics:

For a more comprehensive understanding of this merger and acquisition deal, please refer to the following link:

Deal Metrics for the acquisition of Quipt Home Medical Corp. (QIPT) by Kingswood Capital Management and Forager Capital Management

The Deal Metrics page for each merger or acquisition includes:

• A detailed chart showing the spread history of the merger from announcement to completion or failure.
• A comprehensive list of every event as the merger progresses including the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News updates and SEC filings related to the deal.
• A historical record of deal updates.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article