M&A Deal Summary

Centerbridge Partners Acquires Community Psychiatry Management

On December 15, 2020, asset manager Centerbridge Partners acquired healthcare services company Community Psychiatry Management from New Harbor Capital and Avante Capital Partners

Acquisition Highlights
  • This is Centerbridge Partners’ 6th transaction in the Healthcare Services sector.
  • This is Centerbridge Partners’ 34th transaction in the United States.
  • This is Centerbridge Partners’ 4th transaction in California.

M&A Deal Summary

Date 2020-12-15
Target Community Psychiatry Management
Sector Healthcare Services
Buyer(s) Centerbridge Partners
Sellers(s) New Harbor Capital
Avante Capital Partners
Deal Type Secondary Buyout
Advisor(s) Cain Brothers & Co. LLC (Financial)
McDermott Will & Emery (Legal)

Target

Community Psychiatry Management

Sacramento, California, United States
website
Community Psychiatry Management LLC is a behavioral health practice management company supporting over 40 affiliated psychiatrists practicing in California’s Sacramento, San Joaquin, and Bay Areas. Community Psychiatry Management was founded in 1995 and is based in Sacramento, California.

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Buyer(S) 1

Buyer

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 2005
PE ASSETS 16.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 42 of 46
Sector (Healthcare Services) 6 of 6
Type (Secondary Buyout) 24 of 26
State (California) 4 of 5
Country (United States) 34 of 38
Year (2020) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-30 Help at Home

Chicago, Illinois, United States

Help at Home is a home care provider delivering in-home care to seniors and persons with disabilities. Help at Home was founded in 1975 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-03 Precisely

Burlington, Massachusetts, United States

Precisely is a provider of data integrity software. The Company provides accuracy, consistency, and context in data for 12,000 customers in more than 100 countries. Precisely’s data integration, data quality, data governance, location intelligence, and data enrichment products power better business decisions to create better outcomes. Precisely is based in Burlington, Massachusetts.

Sell -

Seller(S) 2

SELLER
DESCRIPTION

New Harbor Capital is a lower middle-market private equity firm focused on investing in and acquiring profitable, growth-oriented companies. New Harbor seeks opportunities in the healthcare services, education, and business services sectors and looks to invest $10 to $40 million per transaction. The Firm prefers control investment situations and typically looks to fund growth capital financings, management buyouts, and recapitalizations. New Harbor Capital was established in 2013 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 8 of 10
Sector (Healthcare Services) 4 of 5
Type (Secondary Buyout) 4 of 4
State (California) 2 of 2
Country (United States) 8 of 10
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-10 Certica Solutions

Wakefield, Massachusetts, United States

Certica Solutions, Inc. provides an education technology platform, content and data solutions that enable K-12 educators and administrators to improve instructional and organizational performance. Certica partners with a diverse network of education technology companies, publishers and assessment providers; and delivers solutions directly to over 500 school districts, charter schools and educational service agencies. Certica Solutions was founded in 2000 and is based in Wakefield, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-12 Advent Home Medical

Pontiac, Michigan, United States

Advent Home Medical is a high-tech medical equipment company. Family owned and operated by a respiratory therapist, Advent's home ventilator program, home tracheostomy program & ventilator weaning program are designed to safely transition home the most complex respiratory patients of all ages. Advent Home Medical was founded in 2004 and is based in Pontiac, Michigan.

Buy -
SELLER

Avante Capital Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Avante Mezzanine Partners is a provider of junior capital to lower middle-market companies generating at least $3 million in cash flow. The Firm looks to invest $5 to $20 million per transaction and generally works with private equity and independent sponsors in buyout transactions, as well as with entrepreneurs and owners to finance recapitalizations, refinancings, acquisitions and growth. Avante Mezzanine was formed in 2009 and has offices in Los Angeles and Boston.


DEAL STATS #
Overall 12 of 17
Sector (Healthcare Services) 1 of 1
Type (Secondary Buyout) 6 of 9
State (California) 3 of 4
Country (United States) 12 of 17
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-10 Learners Edge

Eagan, Minnesota, United States

Learners Edge provides online professional development, continuing education, and master’s degree programs for K-12 teachers. Learners Edge was established with the mission to help teachers advance their classroom skills and careers, while also improving student learning. Learners Edge was founded in 2002 and is based in Eagan, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-29 Whitebridge Pet Brands

Chesterfield, Missouri, United States

Whitebridge Pet Brands is a provider of natural, wholesome, and minimally processed food and treats for dogs and cats. The Company’s family of brands – Cloud Star, Buddy Biscuits, Wag More Bark Less, Tiki Cat, Tiki Dog, Dogswell, and Nutrisca are sold through a variety of retailers across the U.S. and Canada. Whitebridge Pet Brands is based in Chesterfield, Missouri.

Sell -