The Halifax Group has acquired ChanceLight Behavioral Health, Therapy & Education, from Trimaran Capital Partners.
ChanceLight operates through three segments: (1) ChanceLight Behavioral Health serves children and young adults with autism spectrum and other behavioral disorders, pediatric developmental delays and physical challenges; (2) ChanceLight Therapy offers physical, occupational and speech therapy services for infants, toddlers, children and young adults who have complex medical and developmental needs; and (3) ChanceLight Education provides an alternative education program, Ombudsman Educational Services, which partners with more than 100 school districts to serve at-risk students, and Spectrum Center Schools and Programs, which partners with more than 115 school districts to operate schools and programs for students with special needs.
In total, ChanceLight serves nearly 19,000 clients and students each year at more than 150 locations in more than 20 states. The company is led by CEO Mark Claypool and is headquartered in Nashville (www.chancelight.com).
“Everyone at ChanceLight is committed to our social mission – to offer hope and to change the direction of children’s lives by offering them the opportunity to create successful, independent futures,” said Mr. Claypool. “Halifax believes in our social mission and shares our goal of helping children and families now and in the future. Halifax is the perfect partner for us.”
The Halifax Group invests from $25 million to $75 million of equity in companies with EBITDA from $5 million to $30 million and enterprise values from $50 million to $250 million. Sectors of interest include health and wellness, education, outsourced business services, franchising and infrastructure. The Halifax Group has offices in Washington, DC; Dallas, TX and Raleigh, NC (www.thehalifaxgroup.com).
“We have a deep commitment to support companies in both the education and behavioral health sectors, and we value the unique intersection of these focus areas found in ChanceLight,” said Scott Plumridge, a Partner at Halifax. “We were drawn to Mark and the ChanceLight team because of their dedication to the company’s mission of providing the highest quality solutions in a variety of formats across the country. We are thrilled to partner with them to help bring ChanceLight’s services to more children and families.”
TwinBrook Capital Partners was the sole lead arranger and administrative agent for the financing that supported the buy of ChanceLight by Halifax. TwinBrook focuses on loans to private equity-owned companies with EBITDA between $3 million and $50 million, with an emphasis on companies with $25 million of EBITDA and below. The firm targets senior financing opportunities up to $200 million with hold sizes across the TwinBrook platform ranging from $25 million up to $100 million (www.twincp.com).
© 2018 Private Equity Professional | May 16, 2018
