PE-backed Acute Behavioral Health acquires Hallmark Youthcare

• ABN is backed by Petra Capital Partners, Harbert Credit Solutions, Elm Creek Partners and Granite Growth Health Partners
• Petra Capital deploys more than $700 million of capital into more than 100 companies
• Harbert Credit Solutions is a private capital investment strategy of Harbert Management Corporation

Acute Behavioral Health Inc has acquired Hallmark Youthcare, a Virginia-based short-term residential treatment program. The acquired assets consist of 82 inpatient PRTF beds for young people with behavioral and mental health needs. No financial terms were disclosed.

ABN is backed by Petra Capital Partners, Harbert Credit Solutions, Elm Creek Partners and Granite Growth Health Partners.

On the transaction, Mike McCulla, CEO of Acute Behavioral Health, said in a statement: “The acquisition of Hallmark provides a unique opportunity for Acute Behavioral Health to expand its footprint in Virginia. This transaction will enable Hallmark to continue to provide much needed mental health services to young people and marks the beginning of exploring new ways of helping young people with behavioral and mental health challenges to remain at home with their families.“

Acute Behavioral Health is a healthcare platform of inpatient PRTFs and outpatient behavioral health programs for young people that align with the Federal Family First Prevention Services Act’s initiative toward keeping children with their families and reducing the number of children who are placed in state custody simply to access treatment.

Petra Capital Partners is a private equity firm engaged in providing growth capital for companies located throughout the U.S. The investment team deploys more than $700 million of capital into more than 100 companies.

Harbert Credit Solutions is a private capital investment strategy of Harbert Management Corporation. Since the inception of HCS’s first fund in 2000, the HCS funds have successfully invested approximately $920 million in 130 companies.