MINNEAPOLIS, MN - March 30, 2022 – Northborne Partners is pleased to announce that it served as the exclusive financial advisor to Lighthouse Behavioral Health Solutions (“Lighthouse”) on its recapitalization by Amulet Capital Partners. The transaction closed on March 28, 2022; financial terms were not disclosed.
Founded in 2018, Lighthouse helps improve the lives of patients suffering from substance use disorder by delivering a suite of outpatient-oriented services and supportive resources such as recovery housing aimed at addressing the Social Determinants of Health. Through its comprehensive approach to addiction treatment, Lighthouse provides a continuum of care that begins with asking for help and continues through to ongoing peer support. In addition to state-of-the-art treatment facilities and peer support centers located across Ohio, Lighthouse works with a network of community partners to promote access to care with evidence based clinical treatment.
Lighthouse’s comprehensive treatment offering also includes front-end services such as ambulatory detox, supplemental services such as mental health diagnoses and treatment and medical assessments and monitoring, and non-clinical services like vocational training and financial literacy development.
Ken Higgins, Managing Director at Northborne, commented that “Lighthouse built a unique, culturally-driven business with a mission to improve the way addiction and mental health treatment is delivered to patients. It positively impacts the lives of hundreds of Ohioans daily by focusing a full range of patients’ needs, comprehensively addressing the underlying contributing factors associated with addiction. We are honored to have represented Matt and the Lighthouse team in adding a capital partner to rapidly grow and expand the business.”
Matthew Romeo, Lighthouse Chairman and CEO said, “We are excited to enter this strategic partnership with Amulet to serve an increasing number of clients, helping them achieve the goal of lifelong recovery through substance abuse and mental health treatment. Amulet’s financial support and stellar track record of developing healthcare services businesses will help expedite our growth strategy, as we look forward to providing compassionate, accessible substance abuse and mental health treatment to our patients.”
Lighthouse’s management team also includes Chief Legal Office Matt Fisher, Chief Financial Officer Jack Weston and Chief Compliance Officer Alisha Rinehart, who oversees the differentiated clinical delivery and patient experience that make Lighthouse a provider of choice for many patients in need.
Gabe Luft, Partner of Amulet commented, “This investment represents a tremendous opportunity for Amulet to utilize our collective healthcare experience in a critical segment of healthcare. Lighthouse serves an important role as our country struggles with a fast growing substance use disorder epidemic which has accelerated during the Covid-19 pandemic, leading to increased need for mental and behavioral healthcare services.”
Luft added, “We are impressed by Lighthouse’s comprehensive and innovative service offering, well-regarded reputation in Ohio, and strong track record of de novo growth. We are excited to partner with Matt Romeo and his management team to ensure that Lighthouse can provide high-quality, reliable care to what will be a growing number of patients."
Benesch, Friedlander, Coplan & Aronoff LLP (“Benesch”) served as legal counsel to Lighthouse.
About Northborne Partners
Northborne Partners is a preeminent middle market investment banking firm focused on providing M&A advisory services to companies in the food & consumer, healthcare and industrials sectors, among others. It focuses on advising private business owners in the sale of their companies and has decades of experience sitting across the table from the most seasoned strategic and private equity buyers in the world. Northborne Partners is headquartered in Minneapolis, MN. For more information, please visit www.northborne.com.
Founded as a passion project in early 2018, Matt Romeo’s primary objective was to provide access to quality treatment and reduce the stigma surrounding substance use and mental health through a comprehensive innovative approach to outpatient treatment. Lighthouse combines intensive outpatient treatment with recovery housing to create a community of people who are working through their recovery together, in a place full of compassion, energy, joy, and hope. For more information, please visit www.lighthousebhsolutions.com
About Amulet Capital Partners
Amulet Capital Partners, LP is a middle-market private equity investment firm based in Greenwich, CT, focused exclusively on the healthcare sector. Amulet seeks to achieve long-term capital appreciation through privately negotiated investments in companies. Amulet Capital Partners focuses on those segments it believes have the most attractive long-term fundamentals with a target investment size generally between $25 million to $150 million. To learn more, visit www.amuletcapital.com.
Benesch is an AmLaw 200 business law firm with offices in Chicago, Cleveland, Columbus, Hackensack, San Francisco, Shanghai and Wilmington. The firm is known for providing highly sophisticated legal services to national and international clients that include public and private, middle market and emerging companies as well as private equity funds, entrepreneurs, not-for-profit organizations, trusts and estates.
The 2022 edition of The U.S. News & World Report/Best Lawyers in America® named 58 Benesch attorneys as Best Lawyers in America®. Benesch was named Transportation Law Firm of the Year in 2014, 2016, 2017, 2020 and 2022 by U.S. News & World Report/Best Lawyers® and the firm received national first-tier rankings in Health Care Law, Transportation Law and Litigation-Construction by 2022 U.S. News & World Report/Best Lawyers® “Best Law Firms.” Additionally, 32 Benesch attorneys and 10 practice areas were ranked in the 2021 edition of Chambers USA. To learn more, visit www.beneschlaw.com.
Website includes transactions completed by Northborne professionals at prior firms.