Two private equity firms exited an investment and one dove into it. The target, Ascent Behavioral Health, is a portfolio company of Monroe Capital and Veronis Suhler Stevenson.
The Salt Lake City-based company provides wilderness therapy, residential treatment and therapeutic boarding school programs for adolescents with mental health issues such as depression, anxiety and attachment disorders. Financial terms were not disclosed.
The buyer, Cimarron Healthcare Capital, which is also based in Salt Lake City, focuses on investments in the lower middle market. Its portfolio consists of AMPS (Advanced Medical Pricing Solutions), a healthcare cost management firm; Linen King, which provides hospital laundry services; and Infusion Management, providing therapy and treatment for patients with multiple sclerosis, rheumatoid arthritis and other autoimmune and immunodeficiency disorders in the Los Angeles metropolitan area.