Boston and San Francisco - February 3, 2016 - Housatonic Partners is pleased to announce that on December 31, 2015, it made a significant investment in Sprout Health Group, LLC, a provider of behavioral health and substance abuse treatment services with facilities across the United States.
Based in Eatontown, NJ, Sprout Health Group and its affiliates offer clients a full continuum of behavioral healthcare, including detox, residential treatment, and multiple levels of outpatient treatment, aftercare, and ongoing monitoring programs.
Barry Reynolds, Managing Director at Housatonic, said: “The Sprout team has built an impressive and rapidly growing business that will continue to provide exceptional, outcome-based treatment for its clients. We look forward to working with the Sprout team to achieve their goals.”
“Housatonic has significant experience investing in the behavioral health sector,” said Arel Meister-Aldama, CEO of Sprout Health Group. “We are excited to partner with them to accelerate our growth plans. As a family-owned business focused on maintaining the unique culture that we have developed, we believe that Housatonic is the right long-term partner for our company.”
Steve Johnson, Vice President at Housatonic, commented: “We have known Arel since 2008 and have been following Sprout since he founded the company. It is exciting to formalize a partnership that has been in development for years with a team and business that we know well.”
Housatonic Partners is a private equity investment firm founded in 1994 with more than $1 billion in capital under management. The firm invests in growing, profitable businesses with highly recurring revenue. Housatonic Partners has backed exceptional management teams in more than 85 small to mid-sized companies over the last 21 years.
About Sprout Health Group
Sprout Health Group is a behavioral health and substance abuse treatment provider with operations in New Jersey, Pennsylvania, Florida, Arizona, and both northern and southern California. Sprout provides comprehensive, evidence-based treatment for adult men and women and professionals who are suffering from substance use disorders and co-occurring mental health disorders. At its state-of-the-art facilities, Sprout clients have access to a full range of traditional and alternative therapies in order to integrate physical, mental and spiritual health, which is essential to the recovery process.