Trinity Hunt Partners, a Dallas-based private equity firm, sold Castlewood Treatment Center, a nationally-recognized establishment for eating disorders, to The Riverside Co. this month. Terms of the deal were not disclosed.
Trinity Hunt sold St. Louis, Missouri-based Castlewood to Riverside, a Cleveland, Ohio and New York-based global equity firm, after eight years of partnership with Castlewood’s management team and its entry into the eating disorders industry.
Since then, the center has expanded capacity “five-fold” with the addition of four new treatment facilities and implemented new revenue cycle management, medical records, and accounting systems to the business, nearly tripling Castlewood’s operating cash flow.
Pete Stein, managing partner of Trinity Hunt, said Castlewood has grown into a premier treatment facility because of its “individualized care model” and “treatment programs.”
Castlewood was a portfolio company in Trinity Hunt’s Fund III. The treatment center was represented by David Keys, Castlewood’s managing director and head of healthcare, and David Endom, vice president of Matrix Capital, in the sale. Castlewood received legal counsel from Andrews Kurth, according to a Trinity Hunt statement.