Levine Leichtman Capital Partners has acquired Monte Nido Holdings LLC from Centre Partners Management LLC. No financial terms were disclosed. Malibu, California-based Monte Nido is a provider of treatments for eating disorders and exercise addiction.
New York, NY, September 3, 2015 – Centre Partners Management LLC (“Centre Partners”), a leading middle market private equity firm with offices in New York and Los Angeles, announced today the sale of its portfolio company Monte Nido Holdings LLC (“Monte Nido”) to Levine Leichtman Capital Partners (“Levine Leichtman”). Terms of the transaction were not disclosed.
Monte Nido, based in Malibu, California, is a leading provider of treatment for eating disorders and exercise addiction to adults and adolescents. Founded in 1996, the company operates seventeen facilities in California, Oregon, Massachusetts, New York and Florida that collectively offer a full spectrum of treatment alternatives from residential care to day treatment programs.
“The sale of Monte Nido represents the successful execution of our strategy of identifying and investing in a market-leading business within the highly attractive eating disorder treatment sector where we could assist the company in pursuing numerous growth opportunities,” said Centre Partners Managing Director Jeff Bartoli. “We partnered with Monte Nido due to its unmatched clinical team, leading industry reputation and impressive peer-reviewed outcomes study, each of which was critical to driving substantial growth. Together with founders Carolyn Costin, Bruce Martin, Vicki Kroviak, and Wendy Oliver-Pyatt, we tripled the company’s facility footprint during our ownership period.”
Centre Partners Managing Director Nishad Chande added, “We are delighted with the outcome of our investment in Monte Nido and greatly appreciate the efforts of the company’s management team. After specifically targeting the behavioral healthcare space for investment, Centre Partners worked closely with the team over the past three years to accelerate the company’s growth across the United States. We wish everyone at Monte Nido much continued success.”
Monte Nido Founder Carolyn Costin added, “The Centre Partners team recognized the importance of Monte Nido’s unique culture and legacy of clinical excellence. Throughout our partnership, Centre Partners provided strategic guidance and support that were crucial in driving Monte Nido’s rapid growth and expanding necessary care to those most in need.”
Centre Partners and Monte Nido were advised by Harris Williams LLC, Coker Capital Securities, LLC, Dechert LLP and Sheppard Mullin Richter & Hampton LLP.
About Centre Partners
Centre Partners, founded in 1986, is a leading private equity firm with a middle market focus that seeks to make acquisitions and equity investments alongside management teams who have or desire to have a meaningful economic stake in the future success of their businesses. Centre Partners has invested over $2 billion in more than 70 transactions, partnering with management teams across a broad spectrum of industries. Centre Partners provides those teams with access to its unique resources, which include an extended network of experienced and proven operating executives. The firm is currently investing through its sixth fund. Additional information is available at www.centrepartners.com.
About Monte Nido
Monte Nido, based in Malibu, California, is a leading provider of treatment for eating disorders and exercise addiction to adults and adolescents. Founded in 1996, the Company operates seventeen facilities in California, Oregon, Massachusetts, New York, and Florida which collectively offer a full spectrum of treatment alternatives from residential care to day treatment programs. Additional information is available at www.montenido.com.