M&A Deal Summary

Bain Capital Private Equity Acquires CRC Health

On October 13, 2005, private equity firm Bain Capital Private Equity acquired healthcare services company CRC Health from North Castle Partners and aPriori Capital Partners for 720M USD

Acquisition Highlights
  • This is Bain Capital Private Equity’s 2nd transaction in the Healthcare Services sector.
  • This is Bain Capital Private Equity’s 56th largest (disclosed) transaction.
  • This is Bain Capital Private Equity’s 29th transaction in the United States.
  • This is Bain Capital Private Equity’s 3rd transaction in California.
Investment Fate
  • CRC Health was sold to a publicly-traded strategic buyer in 2014 for 1.2B USD.

M&A Deal Summary

Date 2005-10-13
Target CRC Health
Sector Healthcare Services
Buyer(s) Bain Capital Private Equity
Sellers(s) North Castle Partners
aPriori Capital Partners
Deal Type Secondary Buyout
Deal Value 720M USD
Advisor(s) J.P. Morgan Securities
BofA Securities (Financial)
Ropes & Gray
Debevoise & Plimpton (Legal)

Target

CRC Health

Cupertino, California, United States
CRC Health Group is a provider of treatment and educational programs for addiction and related behavioral health disorders.

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Buyer(S) 1

Buyer

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


DEAL STATS #
Overall 38 of 236
Sector (Healthcare Services) 2 of 13
Type (Secondary Buyout) 4 of 65
State (California) 3 of 20
Country (United States) 29 of 124
Year (2005) 6 of 8
Size (of disclosed) 56 of 72
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-19 SigmaKalon Group BV

Uithoorn, Netherlands

SigmaKalon is a global producer of architectural, protective, marine and industrial coatings, and a leading coatings supplier in many parts of Europe and other key national markets across the globe, with an increasing presence in Africa and Asia. SigmaKalon sells architectural coatings directly to professional painters via a network of service centers, and it maintains a network of approximately 500 company-owned stores and approximately 3,000 independent wholesalers that give it direct access to customers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-31 Professional Service Industries

Oakbrook Terrace, Illinois, United States

Professional Service Industries, Inc. is a provider of testing and assurance services to commercial and civil construction markets, with a broad service offering including building materials testing; geotechnical services; and property and environmental assurance.

Sell -

Seller(S) 2

SELLER

North Castle Partners

Greenwich, Connecticut, United States

Investor


Category Private Equity Firm
Founded 1997
Size Middle-Market
Type Sector Focused
DESCRIPTION

North Castle Partners is a specialist private equity firm that targets investments in consumer-driven product and service businesses. North Castle seeks control investments in companies that benefit from consumers looking to live 'healthier' lives as well as businesses that benefit from the baby boomer population. Specific areas of interest include aesthetics and personal care, consumer health, fitness and recreation, home and leisure, and nutrition. North Castle was formed in 1997 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 3 of 25
Sector (Healthcare Services) 1 of 1
Type (Secondary Buyout) 1 of 6
State (California) 2 of 8
Country (United States) 2 of 23
Year (2005) 1 of 3
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Avalon Natural Products

Boulder, Colorado, United States

Avalon is a provider of natural products. Categories include skin care, hair care, bath and body and sun care.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-05 Equinox Fitness

New York, New York, United States

Equinox Fitness is an operator of full-service high end fitness clubs, operating 50 clubs and yoga studios in eight metropolitan areas across the country. As an internationally recognized arbiter of luxury, Equinox offers members unparalleled, bespoke experiences in the fields of movement, nutrition and regeneration, and remains grounded by substance but elevated in style. Equinox Fitness is based in New York City.

Sell -
SELLER

aPriori Capital Partners

Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

aPriori Capital Partners (formerly DLJ Merchant Banking Partners) is a middle-market private equity firm focused on middle-market buyouts in the US and Europe. Sectors of interest include healthcare, retail, consumer, energy, business services, and industrial. aPriori was originally established in 1985 and has offices in New York and Los Angeles.


DEAL STATS #
Overall 16 of 51
Sector (Healthcare Services) 1 of 1
Type (Secondary Buyout) 3 of 13
State (California) 3 of 7
Country (United States) 13 of 38
Year (2005) 7 of 8
Size (of disclosed) 16 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-09 The Gala Group

Nottingham, United Kingdom

The Gala Group is a provider of bingo and casino operations in the UK.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-09 Basic Energy Services

Fort Worth, Texas, United States

Basic Energy Services is a provider of well-site services for oil and gas exploration and production companies. These services are fundamental to establishing and maintaining the flow of oil and gas from a well throughout its life cycle. Basic Energy Services was formed in 1992 and is based in Fort Worth, Texas.

Sell -