News
Charterhouse Acquires the Camelot Schools, a Leading
Provider of Behavioral Health and
Alternative Education Services
New York, April 10, 2006
Charterhouse Group, Inc. ("Charterhouse") a New York-based private equity firm that has backed entrepreneurs and supported growing middle-market businesses since 1973, announced that it has recently completed the recapitalization of The Camelot Schools, LLC and The Camelot Schools PA, LLC. ("Camelot" or the "Company"). Based in Austin, TX and in business for more than 35 years, Camelot is a leading provider of services to youth and adolescents in both the behavioral health and alternative education markets.
The Company conducts its operations through residential treatment facilities and therapeutic day schools where it manages programs for individuals experiencing a wide array of emotional and behavioral disorders, ranging from severe attention deficit hyperactivity disorder to cases of low functioning autism. In addition, the Company contracts with public school districts to manage educational programs in settings more conducive to the needs of students who are considered "at risk" - those with high likelihood of dropping out or aging out of their respective systems.
Camelot has the opportunity to generate substantial growth through multiple avenues including organic growth, openings of new schools and residential facilities, expanded programs within existing facilities and add-on acquisitions. At present, the Company has operations in Tennessee, Illinois and Pennsylvania.
John Harcourt, Chief Executive Officer stated, "In Charterhouse, we have found a partner with substantial experience in healthcare investing as well as one that is committed to supporting our build-up strategy. With additional resources provided by Charterhouse, the Company is well positioned to continue making a positive difference in the lives of a portion of our society's most vulnerable population." Mr. Harcourt remains the Company's largest individual shareholder.
Charterhouse has been focused on finding a strong platform investment in the behavioral health services industry for several years. The partnership with Camelot's management is consistent with Charterhouse's strategy of combining financial and strategic resources with talented and experienced teams to build value in highly attractive market segments.
Taylor Cole, Partner at Charterhouse, said, "We are very excited about the opportunity to join forces with such a strong team that has already built a solid platform in this critically important, yet consistently underserved, market segment within the health services field."
Charterhouse Entrepreneur Amy Harrison sourced the proprietary Camelot opportunity for Charterhouse. Ms. Harrison previously enjoyed a successful career as the Founder, President and Chief Operating Officer of Children's Comprehensive Services, Inc. She has joined the Company's new Board of Directors.
In addition, Charterhouse Entrepreneur Christopher Garcia, who previously founded and built National Healthcare Resources, will serve on Camelot's Board of Directors.
Proskauer Rose LLP served as legal advisor to Charterhouse in connection with the transaction.
About Charterhouse Group
Charterhouse Group, Inc. is a private equity firm with over three decades of experience in building leading middle-market companies. Established in 1973, Charterhouse currently manages in excess of $1.8 billion in equity through several limited partnerships. Since its inception, Charterhouse has completed investments in over 90 platform companies with a focus in the Business Services, Healthcare Services and Consumer Products and Services sectors.
For more information on Charterhouse, please visit www.charterhousegroup.com.
For more information on the Company, please visit www.thecamelotschools.com.
Contacts:
David G. Hoffman, Partner - (212) 584-3234
C. Taylor Cole, Partner - (212) 584-3212
Charterhouse Group, Inc.
535 Madison Avenue (at 54th St.)
28th Floor
New York, NY 10022-4299
T: (212) 584-3200
F: (212) 750-9704
www.charterhousegroup.com
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