Industry News • January 3, 2017
The Riverside Company has acquired St. Louis, Missouri-based Castlewood Treatment Center, a treatment center for eating disorders. The seller was Trinity Hunt Partners. No financial terms were disclosed.
Trinity Hunt Partners, a Dallas-based private equity firm, today announced the sale of portfolio company Castlewood Treatment Center, a nationally-recognized treatment center for eating disorders headquartered in St. Louis, Missouri, to The Riverside Company, a global private equity firm.
Trinity Hunt’s entry into the eating disorders industry and partnership with Castlewood’s management team began in July 2008. After investing in the treatment center, Trinity Hunt and management expanded capacity five-fold with the addition of four new treatment facilities in Missouri, Alabama, and California in order to satisfy Castlewood’s growing wait list of eating disorder clients. Additionally, Trinity Hunt introduced new revenue cycle management, medical records and accounting systems to the business along with other best practices additions. As a result of these initiatives, Castlewood nearly tripled EBITDA (as adjusted for sale leaseback rents) during Trinity Hunt’s ownership period.
“Our clients are successful because our comprehensive treatment programs are founded on compassion, empowerment and respect,” said Nancy Albus, M.Ed., LPC, NCC, CEDS, who will continue to serve as CEO of Castlewood. “Similarly, our relationship with Trinity Hunt has been a true partnership that has allowed us to achieve our growth goals without compromising our mission to provide individualized care that treats the underlying issues associated with eating disorders.”
“Castlewood has grown into one of the premier treatment facilities in the country because of its individualized care model and the deep and lasting impact our treatment programs have on our clients,” said Pete Stein, managing partner of Trinity Hunt. “We have been honored to work with the Castlewood management team and are confident our partnership has positioned the company for continued success well into the future.”
This article originally appeared in an article on PE Hub Network.