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New MainStream buys Constellation

May 17, 2016
by Julie Miller, Editor in Chief
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New MainStream Capital has acquired Constellation Behavioral Health, and according to the announcement, anticipates providing additional equity capital for strategic acquisitions and de novo facility openings.  

The acquisition includes Alta Mira, a 30-bed adult residential and intensive outpatient addiction and dual diagnosis facility located in Sausalito, Calif., and Bridges to Recovery, with residential psychiatric facilities, located in Pacific Palisades and Holmby Hills, Calif.

Bill Morrison, MBA, who is CEO of Constellation, previously worked as an analyst on Wall Street before opening Alta Mira in 2010.

No financial terms were disclosed, and sellers include Alpine Investors.  New MainStream Capital focuses on equity investments ranging from $10 million to $50 million, targeted for private companies with enterprise values under $300 million.