Private equity firm Pharos Capital Group, LLC, has acquired Logan River Academy, an adolescent residential treatment center in Logan, Utah. Executive Director Larry Carter and Chief Operating Officer Jeff Smith, both current owners, will continue to serve under the new ownership with a minority equity stake. Additional terms of the transaction were not disclosed.
An accredited school with certified teachers, Logan River treats adolescents with mental health disorders, autism spectrum disorders, substance abuse, ADHD, impulse control, anger management, self-esteem, family relationships and academic struggles. The clinical staff is comprised of specialty providers, including psychiatrists, psychologists, clinical social workers, marriage and family therapists, mental health counselors and nurses.
Ed Irby, a behavioral health and special education executive, will head a new holding company, the Family Treatment Network, under Pharos.
This marks the eighth portfolio investment from Pharos Fund III, following its acquisitions of Seaside Healthcare, Inc., a behavioral health services provider; Beacon Specialized Living Services, Inc., a provider of residential healthcare services to individuals with intellectual and developmental disabilities; and other healthcare investments.
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