Add-on Acquisition • Business Services

Prosperity Behavioral Health Acquires Elevated Billing Solutions

On February 14, 2023, Prosperity Behavioral Health acquired business services company Elevated Billing Solutions from Peterson Partners

Acquisition Context
  • This is Prosperity Behavioral Health’s 1st transaction in the Business Services sector.
  • This is Prosperity Behavioral Health’s 1st transaction in the United States.
  • This is Prosperity Behavioral Health’s 1st transaction in Utah.

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M&A Deal Summary

Date February 14, 2023
Target Elevated Billing Solutions
Sector Business Services
Buyer(s) Prosperity Behavioral Health
Sellers(s) Peterson Partners
Deal Type Add-on Acquisition

Target Company

Elevated Billing Solutions

South Jordan, Utah, United States
Elevated Billing Solutions is a financial services company specializes in substance abuse and mental health billing services. Elevated Billing Solutions was established in 2011 and is based in South Jordan, Utah.
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Buyer Overview 1

Buyer

Prosperity Behavioral Health

Cherry Hill, New Jersey, United States

Category Company
Sector Financial Services
DESCRIPTION

Prosperity Behavioral Health is a provider of financial solutions for behavioral health facilities. Prosperity Behavioral Health is based in Cherry Hill, New Jersey.


Deal Context for Buyer #
Overall 1 of 1
Sector: Business Services 1 of 1
Type: Add-on Acquisition 1 of 1
State: Utah 1 of 1
Country: United States 1 of 1
Year: 2023 1 of 1

Seller Profile 1

SELLER

Peterson Partners

Salt Lake City, Utah, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1995
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Peterson Partners is a private equity firm that targets investments in lower middle-market growth companies located in the Western US. Peterson looks to commit between $5 and $25 million of equity in companies generating sales of at least $5 million. Sectors of interest include consumer products and services, business services, and manufacturing. Peterson Partners was formed in 1995 and is based in Salt Lake City, Utah.


Deal Context for Seller #
Overall 31 of 33
Sector: Business Services 5 of 5
Type: Add-on Acquisition 11 of 11
State: Utah 12 of 12
Country: United States 29 of 30
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-04 Glowbar

New York City, New York, United States

Glowbar is a skincare by delivering customized 30-minute, professional-grade treatments to target real concerns monthly. All Glowbar treatments are powered by expertly trained estheticians and standardization technology, as we are committed to creating an environment that drives results for everyone. Glowbar was founded in 2019 and is based in New York City.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-01 Dura Software

San Antonio, Texas, United States

Dura Software specializes in hyper-niche software products that fit narrow but mission-critical use cases for business customers. The company buys software products from owners wanting an exit to operate with no intention to sell. Dura Software was founded in 2017 and is based in San Antonio, Texas.

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