Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has partnered with management to complete the acquisition of Monte Nido Holdings, LLC (“Monte Nido” or the “Company”). Founded in 1996, Monte Nido is a leading provider of treatment to people suffering from eating disorders. The Company operates facilities nationwide and offers a continuum of care encompassing residential treatment, partial hospitalization, intensive outpatient, transitional care and meal support services. The Company is renowned for its superior, industry-leading clinical outcomes, the quality of its staff and its individualized approach. Monte Nido is headquartered in Malibu, California.
Monte Nido is the seventh investment from Levine Leichtman Capital Partners Fund V, L.P. According to Lauren Leichtman, Co-Founder and CEO of LLCP, “We are excited to partner with industry pioneers Carolyn Costin, Vicki Kroviak, Wendy Oliver-Pyatt and the rest of the team at Monte Nido. The Company has an outstanding reputation for its effective, high quality of care and is uniquely positioned to support a vastly underserved eating disorder treatment market. We look forward to the continued growth and success of the business.”
Carolyn Costin, Vicki Kroviak, and Wendy Oliver-Pyatt will retain significant ownership in the Company. Regarding the transaction, Carolyn Costin, founder of Monte Nido, commented, “I am very excited about partnering with LLCP as I believe they are the right partner to help us continue our tradition of providing high quality care to help people recover from eating disorders.” Vicki Kroviak, Monte Nido’s Chief Executive Officer, added, “LLCP’s financial and strategic expertise will be critical in helping us move into our next phase of growth so that we can help meet the large unmet demand for eating disorder treatment.”
Monte Nido was advised by Harris Williams & Co. and Dechert LLP. LLCP was advised by Kirkland & Ellis LLP.