RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, announces the sale of Lakeview Health Systems, LLC (Lakeview), a leading Joint Commission accredited substance abuse treatment provider, to The Riverside Company (Riverside). Harris Williams & Co. served as the exclusive financial advisor to Lakeview, a portfolio company of Trinity Hunt Partners (Trinity Hunt). The transaction was led by Cheairs Porter, James Clark, Paul Hepper, Jacques Fu and Whitt Larkin of Harris Williams & Co.’s Healthcare & Life Sciences (HCLS) Group.
“Lakeview has distinguished itself as an industry leader among substance abuse treatment providers through its demonstrated track record of driving superior patient outcomes,” said Cheairs Porter, a managing director in Harris Williams & Co.’s HCLS Group. “The transaction illustrates the strong interest in high-quality substance abuse platforms, driven by the unmet need to treat a growing population of individuals with substance abuse disorders,” added James Clark, a managing director in Harris Williams & Co.’s HCLS Group.
“Roy M. Serpa and his team have transformed the Lakeview platform into a center for excellence under Trinity Hunt’s ownership and positioned the company for significant future growth,” said Paul Hepper a director in Harris William & Co.’s HCLS Group. “Riverside will be an excellent partner to help management execute on its strategic plan and realize Lakeview’s growth potential.”
Lakeview, located in Jacksonville, Florida, serves individuals with addiction and psychiatric disorders. Licensed clinical staff work in large and small groups to offer an integrative health approach that addresses the medical, psychological, physical and spiritual aspects of recovery. The company’s gender-responsive programs—the Rose of Lakeview and the Star of Lakeview—host unique treatment features that cater to women and men independently. Lakeview provides a full continuum of care that includes medical detox to intensive outpatient, allowing patients to successfully move toward a life in recovery.
Trinity Hunt is a private equity firm based in Dallas focused on partnering with entrepreneurial businesses to accelerate their growth and achieve their full potential. With over $500 million of committed investor capital, the firm’s investment team has a successful track record investing in more than 50 platform companies over the past 25 years.
Riverside is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 450 transactions. The firm’s international portfolio includes more than 80 companies. Riverside has extensive healthcare services experience and has made more than 90 investments in the sector.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
