CHICAGO--(BUSINESS WIRE)--Antares Capital announced today it is serving as administrative agent and joint lead arranger on a $136 million senior secured credit facility to support the acquisition of Meadows Behavioral Healthcare (“The Meadows”) by Kohlberg & Company, LLC (“Kohlberg”).
Upon the acquisition of The Meadows, Kohlberg announced the formation of Alita Care, LLC (“Alita”), which will serve as the parent holding company for The Meadows and Kohlberg’s existing portfolio company, Sunspire Health, LLC (“Sunspire”). The Meadows and Sunspire will continue to operate as independent brands within Alita, while exploring ways to improve patient care through the sharing of best practices.
“We are thrilled to be working with Antares on the Alita transaction,” said Evan Wildstein, partner of Kohlberg. “The Antares team once again provided timely and flexible financing and supported us with a meaningful commitment.”
“Having worked with the Kohlberg team for many years, we have confidence in their healthcare investment strategy and believe in their vision for Alita,” said Chet Zara, senior managing director with Antares Capital. “We are looking forward to supporting the growth opportunities that arise from bringing two industry leading companies together under Kohlberg’s ownership.”
About Sunspire Health
Sunspire Health, LLC is a leading provider of behavioral health services for the treatment of substance abuse and other co-occurring disorders. The company operates a portfolio of independently branded treatment centers, currently comprising ten locations in California, Florida, Illinois, Massachusetts, Oregon, South Carolina, and Texas. Utilizing evidence-based clinical interventions and an abstinence-focused approach, Sunspire offers treatment for those living with substance use disorders, gambling addiction, sex addiction, and co-occurring mental illnesses. Sunspire delivers improved patient outcomes by offering a full continuum of care and individualized treatment plans in intimate settings in residential and outpatient facilities across the nation. For more information, please visit www.sunspirehealth.com.
About The Meadows
Meadows Behavioral Healthcare is the industry leader in providing treatment for trauma and for treating people struggling with addiction, eating disorders, and related mental health conditions. The company’s programs — The Meadows, The Claudia Black Young Adult Center at The Meadows, Gentle Path at The Meadows, Remuda Ranch at The Meadows, The Meadows Outpatient Center, and a series of intensive workshops — are the premier choice of patients, families, and behavioral health professionals. For more information, please visit www.themeadows.com.
Kohlberg & Company, L.L.C is a leading private equity firm headquartered in New York. Since its inception in 1987, Kohlberg has organized seven private equity funds, through which it has raised over $5 billion of committed equity capital. Over its 29-year history, Kohlberg has completed 68 platform investments and over 145 add-on acquisitions, with an aggregate transaction value of approximately $10 billion. For more information, please visit www.kohlberg.com.
About Antares Capital
Antares Capital is the leading provider of financing solutions for middle-market, private equity-backed transactions with offices in Atlanta, Chicago, Los Angeles, New York, Norwalk (Connecticut) and Toronto. Antares has facilitated more than $120 billion in financing over the past five years. Antares was named 2015 Dealmakers of the Year and 2014 Lender of the Year by Mergers & Acquisitions. Visit us at www.antares.com or follow Antares Capital on Twitter at https://www.twitter.com/antarescapital. Antares Capital is a subsidiary of Antares Holdings LP.