Three Oaks Hospice, a Dallas-based provider of hospice and palliative care services, is in the midst of a sale process, according to five sources familiar with the matter.

The company is working alongside investment bank Harris Williams, according to four of the sources. The process is in the later stages and is down to a few private equity buyers, three of the sources said.

Three Oaks generates between USD 12m and USD 15m EBITDA, according to all the sources.

The business was founded in May 2019. In September 2019, it announced the completion of three acquisitions and a USD 21m growth equity round from Granite Growth Health Partners, Health Velocity and Petra Capital Partners.

Three Oaks provides symptom management and quality of life care for patients with terminal illnesses across its 28 locations throughout Texas, Missouri, Kansas, Illinois, Michigan, Louisiana, South Carolina and Pennsylvania, according to its website.

In 2020, Three Oaks expanded its footprint via four acquisitions in Houston and Austin, Texas; Chicago; Kansas City, Missouri; and Overland Park, Kansas, according to a company press release.

Three Oaks, Harris Williams, Granite Growth Health Partners, Health Velocity and Petra Capital Partners did not respond to requests for comment.