Bengur Bryan advised Sequel Youth and Family Services (“Sequel”), a leading behavioral healthcare provider, on a majority equity investment from Altamont Capital Partners (“Altamont”), a private investment firm based in the San Francisco Bay Area with $2 billion of capital under management.
Altamont focuses on investing in middle market businesses with leading management teams across a range of industries, including healthcare. Sequel’s decision to partner with Altamont was driven by Altamont’s experience and their ability to accelerate the growth of the company through both organic expansion in the underlying programs as well as the acquisition of new programs.
Bengur Bryan & Co., Inc. has had a relationship with the co-founder of Sequel Youth and Family Services since the mid-1990s and began providing advisory services to the Company in 2008, which through a number of transactions resulted in eight-fold growth for Sequel. Since that time, Bengur Bryan has assisted the Company in completing the following transactions:
- Three private placements of senior and subordinated debt, and preferred equity for growth;
- A private placement of senior debt and preferred equity to repurchase equity from a minority private equity partner;
- Buy-side business development management and completion of four acquisitions; and
i) CHG Health Services, d/b/a Camelot System of Care, a provider of child and adolescent psychiatric residential treatment, juvenile justice residential treatment and community based services
ii) Three youth, juvenile justice residential treatment centers in Florida previously owned by Youth Services International
iii) Pomegranate Health Care Management Services, a psychiatric residential treatment and inpatient acute psychiatric services provider in Ohio
iv) Centers for Adolescent Recovery and Education d/b/a Care Schools, an operator of four residential treatment centers in Utah
• The majority recapitalization with Altamont in 2017.
Sequel was founded in 1999 with a single contract to manage Clarinda Academy, a residential treatment facility for at-risk youth based in Clarinda, Iowa. Over the years, the Company has expanded its service offering and geographic reach to 44 programs across 19 states, serving approximately 9,000 clients from 42 states and U.S. territories.
“Bengur Bryan has been an invaluable resource to Sequel for the past decade, and their work to source and close the Altamont transaction for us was expertly executed from beginning to end.”
– Jay Ripley, Co-Founder & Chairman / Sequel Youth and Family Services