Levine Leichtman ends seven-year ownership of eating disorder treatment business Monte Nido

Levine Leichtman Capital Partners has ended its seven-year ownership of eating disorder treatment programme specialist Monte Nido through a sale to Revelstoke Capital Partners.

The firm had picked up the business in 2015 using its fifth flagship fund, in a deal understood to be worth about $270m.

Monte Nido has more than 45 facilities across the US providing inpatient, residential, partial hospitalisation, and intensive outpatient treatment for adults and children with eating disorders.

LLCP partner Matthew Rich, “We are very proud of what Monte Nido has accomplished since we invested in the company.

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“The world-class management team tripled the number of facilities through de novo openings and strategic acquisitions, while never wavering in its commitment to the highest quality treatment and industry-leading clinical outcomes.”

The deal is LLCP’s eleventh exit since the start of last year, following sales of businesses including Hand & Stone, Mountain Mike’s Pizza, CJ Fallon, HomeVestors and West Academic.

LA-based LLCP currently manages about $9bn of assets. The firm hit new fundraising heights in 2019 by closing its oversubscribed sixth private equity vehicle on $2.5bn.

Fund VI surpassed both its $2.2bn target and the $1.65bn raised for the fund’s predecessor vehicle in 2013.

Last week the firm brought in Debra Sherman from Ares Management as a director in its investor relations group.

Source: Alt Assets

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