Lee Equity and Coastwood to invest in Discovery Senior Living

• The capital will be used to back Discovery’s continued expansion and operational platform enhancements
• Based in Southwest Florida, Discovery Senior Living owns and operates a portfolio of more than 110 communities in 19 states
• Lee Equity Partners invests in in middle-market companies

Lee Equity Partners and Coastwood Senior Housing Partners have agreed to invest in Discovery Senior Living, a senior housing operator.

The capital will be used to back Discovery’s continued expansion and operational platform enhancements.

The transaction is expected to close in the fourth quarter of this year.

“Discovery Senior Living represents the ideal platform to build a leading national senior living operator due to the strength of its team, centralized services, and national and regional brand operating structure,” said Yoo Jin Kim, a partner at Lee Equity Partners, in a statement. “The secular growth tailwinds and consolidation opportunity within senior housing management are very similar to those we observed in the third-party hotel management sector with our Aimbridge Hospitality investment. We seek to replicate that success in partnership with Richard Hutchinson and the Discovery team, as well as Dan Decker and the Coastwood team.”

The family of companies in the agreement include Discovery Management Group, Morada Senior Living, TerraBella Senior Living, Discovery Development Group, Discovery Design Concepts, Discovery Marketing Group, and Discovery At Home, a Medicare-certified home healthcare company.

With headquarters in Southwest Florida, Discovery Senior Living currently owns and operates a portfolio of more than 110 communities in 19 states.

Lee Equity Partners invests in in middle-market companies.

Coastwood Senior Housing Partners, LLC is an investment firm led by Daniel A. Decker that specializes in seniors housing and related services.