Riverside Company, a middle market buyout firm, has purchased Dementia Care Specialists, an Alzheimer’s and dementia care training firm. The deal is a platform acquisition to its portfolio company, Crisis Prevention Institute, paid for with equity from Riverside Capital Appreciation Fund 2003.
Add-on acquisition for Crisis Prevention Institute 6th Acquisition of 2009; 214th Acquisition Overall
Fund Family: Riverside Capital Appreciation Fund 2003 (“RCAF ’03”)
Dementia Care Specialists
Based in Hillsborough, North Carolina
• Founded in 1999 by a registered and licensed occupational therapist who sought to enhance the function, safety and quality of life for individuals with Alzheimer’s or related dementias.
• Unique training program offers specific techniques to assess and work safely with individuals with dementia to maximize functionality.
• Trains via continuing education workshops, on-site programs, comprehensive consulting projects and a supporting book and video library.
• Builds partnerships with therapists and long-term care facilities to create continuing benefits for those affected by dementia.
Dementia Care Specialists has trained more than 5,000 professionals since its inception using company-developed materials and techniques, via live on-site training as well as open seminars. The company offers its training to professional therapists (occupational, speech, physical) as well as the rest of the administrative and nursing staff of long-term care facilities. Over five million Americans have Alzheimer’s, and that number is growing, which makes the work Dementia Care Specialists does to improve their quality of life extremely important and beneficial to the community.
Anne Hayes, Riverside Partner
“We see a lot of possibilities in this combination, and we’re excited about expanding Riverside’s decades of experience building strong training and education companies. CPI, with its world-class crisis prevention programs and train-the-trainer approach, can help Dementia Care Specialists expand its proven training program and further penetrate its current market. Dementia Care Specialists’ strong reputation opens the growing long-term care market to CPI, allowing the company to offer its Nonviolent Crisis Intervention program to a new group of customers.”
Tony Jace, CPI CEO
“Dementia Care Specialists is a wonderful addition to CPI. It will round out our service offerings while introducing us to thousands of potential customers. We also look forward to adding to Dementia Care Specialists’ outstanding core training program by eventually developing a train-the-trainer system using proven CPI techniques. More importantly, both CPI and Dementia Care Specialists share a common vision to improve the environment for both patients and employees.”
Anne Hayes, Partner; Martha Anders, Vice President; and Peter Tsang, Vice President worked on behalf of Riverside’s Training and Education team to complete this transaction.
NewStar and New Canaan are the incumbent lenders for Crisis Prevention Institute.
The Riverside Company (www.riversidecompany.com or www.riversideeurope.com)
The Riverside Company is the largest global private equity firm focused on the smaller end of the middle market (“SEMM”) and is one of the industry’s most experienced leveraged buyout investors. Riverside invests in premier SEMM companies valued up to $150 million and partners with strong management teams to build companies through acquisitions and value-added growth. Since its founding in 1988, the firm has invested in 214 transactions with $4.7 billion in enterprise value, and has a current portfolio in North America, Europe and Asia consisting of 69 companies. Riverside offers certainty to close and can complete acquisitions in as little as 45 days, thanks to its more than $2.7 billion of capital under management, over 180 professionals in 18 offices (Atlanta, Brussels, Budapest, Chicago, Cleveland, Dallas, Eindhoven, Hong Kong, Los Angeles, Madrid, Munich, New York, Prague, San Francisco, Seoul, Stockholm, Tokyo and Warsaw), and long-standing relationships with partner lenders. As of the end of September 2008, Riverside’s portfolio had combined annual sales of $3.2 billion, EBITDA of $524 million and more than 14,000 employees. Five of the firm’s eight mature vintages are currently top quartile. Riverside’s investors include the world’s leading pension funds, endowments, funds-of-funds, insurance companies and banks.
Crisis Prevention Institute (www.crisisprevention.com)
Crisis Prevention Institute, Inc. develops and publishes proprietary materials to train and certify people in proven non-violent crisis-prevention techniques. Founded in 1980 and based in Brookfield, Wisconsin, CPI certifies instructors during seminars, and sells training materials to certified instructors to teach employees at their workplaces. CPI’s customers include psychiatric hospitals and more than 10 industry segments, including education, healthcare, and retail. More than five million people worldwide have been trained using the CPI program since its inception.
Dementia Care Specialists (www.dementiacarespecialists.com)
Dementia Care Specialists is a national dementia care training and consulting firm focused on enhancing the function, safety and quality of life of individuals with Alzheimer’s and related dementia. Founded in 1999, the company trains professional caregivers using company-developed methods and programs.