Industry News • November 17, 2016
GREENVILLE, S.C.–(BUSINESS WIRE)–Crossroads Holding, LLC (“Crossroads”), a portfolio company of Revelstoke Capital Partners LLC (“Revelstoke”), a Denver-based private equity firm, has completed its acquisition of two outpatient opiate treatment programs Starting Point of Darlington LLC and Starting Point of Florence, Inc. (collectively “Starting Point”).
“Starting Point represents the first of several acquisitions which combined with our organic expansion will enable Crossroads to better serve the opioid dependent community.”
Crossroads, based in Greenville, South Carolina, is a leading regional provider of opiate treatment program services in the southeastern United States. Crossroads provides medication-assisted treatment through its nationally-accredited outpatient programs that deliver effective and affordable treatment for persons suffering from opioid dependence.
Starting Point has locations in Florence, South Carolina and Hartsville, South Carolina and provides substance abuse treatment services through its team of highly trained and accredited healthcare providers. Starting Point’s existing shareholders will rollover into Crossroads and provide ongoing services to Crossroads. “We are enthusiastic about partnering with the professionals at Crossroads. The management team personifies integrity which is evident in both their compliant operations as well as the efficient transaction process,” said Larry Worley, co-founder of Starting Point. Dr. Rupert McCormac, CEO of Crossroads added, “Starting Point represents the first of several acquisitions which combined with our organic expansion will enable Crossroads to better serve the opioid dependent community.”
“We are excited about the prospect of expanding Crossroads’ footprint in South Carolina and further solidifying its position as a leader in the substance abuse treatment industry,” said Simon Bachleda, Managing Partner and Co-Founder of Revelstoke. “We look forward to our partnership with Starting Point and expect to leverage their valuable market relationships and clinical excellence to advance Crossroads’ mission of treating patients suffering from opioid dependency.”
Winston & Strawn LLP acted as exclusive legal advisor and Quadriga Partners, LLC served as exclusive financial advisor to Revelstoke and Crossroads.
This article originally appeared in an article on BusinessWire.