Generational Equity Advises Cleburne Physical Therapy & Sports Rehabilitation in its Sale to Golden Bear Physical Therapy

By Generational Equity


Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client Cleburne Physical Therapy & Sports Rehabilitation (dba Real Performance Physical Therapy) to Golden Bear Physical Therapy (a holding of Shore Capital Partners). The acquisition closed December 28, 2021.

With two locations in Cleburne, Texas, and founded in 1988, Cleburne Physical Therapy & Sports Rehabilitation (Cleburne), is a full-service outpatient orthopedic physical therapy practice. The Company assists clients in returning to optimal levels of performance and daily functioning, relying on its team of experienced physical therapists. Cleburne also has an additional facility in Burleson, Texas.

Golden Bear Physical Therapy, located in Modesto, California, is committed to building the premier network of physical therapy and wellness services in the Western United States.

Founded in 1981, Golden Bear was acquired by Bobby Ismail PT in 1997 and the business has grown rapidly since partnering with Shore Capital Partners in 2019.? Their vision is for Golden Bear Therapy Partners is to be the partner of choice for leading rehabilitation practitioners throughout the United States.

Shore Capital Partners (Shore), located in Chicago, Illinois, was recognized by Inc. Magazine in 2020 and 2021 as one of the Best Founder Friendly investors. Additionally, PitchBook ranked Shore as the 2020 #1 global leader in private equity deal volume, showing why more entrepreneurs chose Shore as a growth partner than any other firm in the world. Shore’s management philosophy is rooted in a shared vision of success developed jointly with their entrepreneurs and board members. Utilizing the Shore playbook, they have generated consistent and repeatable results.

Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team, led by Senior M&A Advisor, Cory Strickland, with support from Vice President, M&A, Jacob Mangalath, successfully closed the deal. Senior Managing Director James Carr established the initial relationship with Cleburne.

“I was thrilled to be able to represent Real Performance in this transaction. The owners of Real Performance are fantastic people and are the leaders in physical therapy in the Cleburne area,” said Strickland.

He added, “When I met the owners, the first thing that they told me was that their primary objective was to make sure that we found the best fit for their clients and employees. I believe we found them that match with Golden Bear.”

About Generational

Headquartered in Dallas, Generational is one of the leading M&A advisory firms in North America.

With more than 350 professionals located throughout 17 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.

The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022 as well as Consulting Firm of the Year. For more information, visit