Crossroads Holding LLC, a a portfolio company of Revelstoke Capital Partners LLC, has completed its buy of Center of HOPE of Myrtle Beach LLC. Financial terms weren’t announced. Center of Hope, of Myrtle Beach, South Carolina, provides opiate treatment program services in the United States. Winston & Strawn LLP provided legal advice to Revelstoke and Crossroads.
Greenville, SC (August 8, 2017) – Crossroads Holding, LLC (“Crossroads”), a portfolio company of Revelstoke Capital Partners LLC (“Revelstoke”), a Denver-based private equity firm, has completed its acquisition of Center of HOPE of Myrtle Beach, LLC (“Center of Hope”).
Crossroads, based in Greenville, South Carolina, is a rapidly growing provider of opiate treatment program services in the United States. Crossroads provides medication-assisted treatment and counseling through its nationally-accredited outpatient programs that deliver effective and affordable treatment for persons suffering from opioid dependence.
Center of Hope is located in Myrtle Beach, SC and provides substance abuse treatment services through its team of highly trained and accredited healthcare providers. “We are very excited about the future of our clinic. The professionals at Crossroads consistently emphasize a high standard which is evident in both their patient satisfaction as well as the efficient transaction process,” said Dennis Owens, Center of Hope’s Co-founder. Dr. Rupert McCormac, CEO of Crossroads added, “Center of Hope is the third of several anticipated acquisitions which, combined with our organic expansion, will enable Crossroads to better serve its patients and the opioid dependent community.”
“We are excited about the prospect of expanding Crossroads’ footprint in its original state, South Carolina, and further enhancing its position as a premier substance abuse treatment company,” said Simon Bachleda, Managing Partner and Co-Founder of Revelstoke.
Winston & Strawn LLP acted as exclusive legal advisor to Revelstoke and Crossroads.
Crossroads is a leading provider of medication-assisted treatment services and counseling for individuals who are opioid dependent through its established outpatient care centers with 24 clinics located in seven states across the United States. Crossroads was founded in 2007 and is headquartered in Greenville, South Carolina.
Revelstoke is a private equity firm focused on building industry-leading healthcare and business services companies. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition strategy to build exceptional companies. Revelstoke has ~$1.0 billion of assets under management and since its founding in 2013 has completed 33 acquisitions which includes 8 platform companies and 25 add on acquisitions.