Ridgemont Equity Partners is keeping up a strong investment pace by sealing its second buyout of the week.
The mid-market investment firm has agreed a deal for The Speech Pathology Group (“SPG”), which provides behavioral health and therapeutic services to children with autism and other special requirements in Northern California.
Ridgemont and SPG have formed Autism Intervention Services, a management services organization, to support SPG’s growth.
The deal comes three days after Ridgemont bought heating, ventilation and air conditioning business Munch’s Supply.
Ridgemont partner Scott Poole said, “Ridgemont is excited to partner with SPG, whose clinical excellence, quality outcomes and strong reputation amongst therapists, schools and families provides a strong foundation for growth.
“We are looking forward to working closely with the team to help expand SPG’s therapy offering in multiple care settings in order to meet the growing demand within its communities.”
Ridgemont capped a stellar fundraise at the end of 2018 by hauling in $1.65bn for the final close of its third flagship vehicle.
AltAssets revealed last August that the firm had struck the $1.25bn target for Ridgemont Equity Partners III, and was pushing towards up to $1.5bn for the new mid-market and growth vehicle.
But the firm has overshadowed even that amount through the final close, allowing it to target investments of up to $250m across business and industrial services, energy, healthcare, and technology and telecommunications.
Ridgemont closed Fund II on a $995m hard cap back in 2015, and typically used that vehicle to make investments of between $25m and $100m.
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