Private equity firm Kohlberg & Company has acquired majority ownership of Sunspire Health, which has six residential treatment facilities located in California, Florida, Massachusetts and Oregon, with new facilities opening in Hilton Head Island, S.C., Gilman, Ill., and Key Largo, Fla., in 2015.
Kohlberg intends to support Sunspire’s growth with its $1.6 billion fund known as Kohlberg Investors VII.
“We are thrilled to team up with Kohlberg and look forward to the next phase of the company’s growth and development,” said A.J. Schreiber, CEO of Sunspire, in a statement.
Sunspire’s executive team will remain intact, according to the announcement. As part of the transaction, Robert A. Cucuel, Jr. has joined Sunspire’s board of directors as chairman.
Sunspire Health is headquartered in Lyndhurst, N.J.
Get the latest information on Business Strategy and other valuable topics at this three-day retreat bringing together treatment center owners and executives and key members of the financial community for prime networking opportunities and in-depth discussions for those looking to grow, invest and transform their business.