Aug. 30, 2022: Berhnard Environmental Systems Platform Co Makes Acquisition
Plus, Avance invests in RIA Advisory, and Levin Leichtman exits Monte Nido
Read the top headlines from Tuesday, August 30, 2022 below:
Avance Backs Revenue Management Co. RIA Advisory
RIA Advisory, a B2B company providing large and midsize businesses with revenue management solutions, said in a recent press release that it has secured an investment from middle-market private equity firm Avance Investment Management. Avance, which targets services, technology and consumer businesses, will support RIA’s efforts to diversify its offerings and enhance customer support, while also expanding the business into new verticals with new products. In a statement, Avance senior partner John Civantos said RIA “is poised for sustainable, international growth.” Financial terms of the investment were not disclosed.
Bernhard’s Environmental Systems Group Acquires BEM Systems
Energy services provider Environmental Systems Group, a platform company launched by Bernhard Capital Partners last July, announced the acquisition of BEM Systems, a company that provides consulting, engineering and information management solutions. A press release said the acquisition expands Environmental Systems Group’s footprint into the Northeast as well as Alaska. It follows the platform company’s recent takeover of KC Harvey Environmental. Financial terms of the transaction were not made public.
In a statement, Bernhard managing director Chris Dillon pointed to “a compelling opportunity within the environmental solutions space for a diversified, one-stop provider that can deliver sophisticated and tailored services to businesses and government agencies across the country.”
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Levine Leichtman Exits Treatment Program Provider Monte Nido
Private equity firm Levine Leichtman Capital Partners has announced its sale of Monte Nido, a provider of treatment programs for adults and adolescents with eating disorders, a recent press release revealed. Monte Nido encapsulates five brands across 45 locations in the U.S., and now marks the private equity firm’s eleventh exit since the start of 2021. Revelstoke Capital Partners, a private equity firm focused on the healthcare industry, has acquired the company, the announcement noted, though financial terms of the deal were not disclosed.