Harris Williams Advises Crossroads Treatment Centers, a Portfolio Company of Revelstoke Capital Partners, on its Recapitalization With Revelstoke Capital Partners and Caisse de dépôt et placement du Québec

Rhea-AI Summary

Harris Williams has advised Crossroads Treatment Centers, a leader in opioid use disorder treatment, on its recapitalization with Revelstoke Capital Partners and Caisse de dépôt et placement du Québec. Crossroads operates over 120 treatment facilities across 10 states, serving over 26,000 patients monthly. The recapitalization aims to enhance Crossroads' service capacity amidst a growing opioid crisis. Revelstoke Capital, with $3.8 billion in assets, emphasizes strategic growth, while CDPQ manages $306.8 billion in net assets, focusing on sustainable investment returns.

Positive

• Crossroads operates over 120 facilities, indicating significant market presence.
• The recapitalization could provide Crossroads with the necessary resources for expansion.
• Crossroads serves over 26,000 patients monthly, demonstrating strong demand for its services.
• Revelstoke's focus on growth could enhance Crossroads' operational capabilities.

Negative

• None.

RICHMOND, Va.--(BUSINESS WIRE)-- Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Crossroads Treatment Centers (Crossroads), a portfolio company of Revelstoke Capital Partners (Revelstoke), on its recapitalization with Revelstoke and Caisse de dépôt et placement du Québec (CDPQ). Crossroads is a national leader in the treatment of opioid use disorder. The transaction was led by James Clark, Whit Knier, Nathan Robertson and Jonathan Ferrell of the Harris Williams Healthcare & Life Sciences (HCLS) Group.

“The quality of care and value-added services provided by Crossroads, coupled with its expansive geographic footprint, have enabled it to become a leading platform of scale in the medication-assisted treatment (MAT) market,” said Whit Knier, a managing director at Harris Williams. “It was a pleasure working with the Crossroads, Revelstoke and CDPQ teams on this transaction, and we look forward to watching Crossroads’ continued growth in the coming years.”

“Behavioral health continues to be an attractive sector for investors and strategic buyers alike and is aided by strong underlying industry tailwinds,” added James Clark, a managing director at Harris Williams. “Crossroads is uniquely addressing the key problems plaguing the country’s opioid abuse epidemic by offering greater access to comprehensive, high-quality and compassionate care.”

Headquartered in Greenville, South Carolina, Crossroads is a national leader in outpatient treatment for opioid use disorder, operating over 120 addiction treatment facilities across 10 states. Crossroads uses evidence-based MAT to help individuals struggling with substance use disorders and mental health illnesses. With proven, individualized treatment plans, the family of dedicated doctors, nurse practitioners, counselors and professionals at Crossroads provides the highest quality of professional care to over 26,000 patients a month.

Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare and related business services sectors. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition growth strategy as it strives to build exceptional companies. Revelstoke is based in Denver and has approximately $3.8 billion of assets under management, which includes uncalled capital commitments made to Revelstoke-managed vehicles. Since the firm’s inception in 2013, Revelstoke has completed 128 acquisitions, which includes 24 platform companies and 104 add-on acquisitions.

CDPQ invests constructively to generate sustainable returns over the long term. As a global investment group managing funds for public retirement and insurance plans, CDPQ works alongside its partners to build enterprises that drive performance and progress. CDPQ is active in the major financial markets, private equity, infrastructure, real estate and private debt. As of June 30, 2021, CDPQ’s net assets totaled $306.8 billion (390 billion Canadian dollars).

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

The Harris Williams HCLS Group has experience across a broad range of sectors, including healthcare providers; payors and payor services; outsourced pharmaceutical services; medical device supply chain; healthcare IT; and pharmacy. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220112005702/en/

For media inquiries, please contact Julia Moore at media@harriswilliams.com.

Source: Harris Williams LLC

FAQ

What company did Harris Williams advise in their recent recapitalization?

Harris Williams advised Crossroads Treatment Centers in their recapitalization.

Who are the partners involved in the recapitalization of Crossroads Treatment Centers?

The recapitalization involved Revelstoke Capital Partners and Caisse de dépôt et placement du Québec.

How many facilities does Crossroads Treatment Centers operate?

Crossroads operates over 120 addiction treatment facilities across 10 states.

What is the primary service provided by Crossroads Treatment Centers?

Crossroads Treatment Centers specializes in outpatient treatment for opioid use disorder.

What is Revelstoke Capital's focus in the healthcare sector?

Revelstoke Capital focuses on building industry-leading companies through organic and acquisition growth strategies.