CIC Partners Announces the Sale of InnerChange
Lance Davis, CEO of InnerChange, stated “CIC has been instrumental in providing the capital and strategic guidance to establish InnerChange as a leader in our industry. We look forward to continued growth with our new partners and appreciate the solid partnership with CIC over the last 5 years.”
“In partnership with management, we improved the quality of InnerChange’s treatment services and expanded geographically to better serve the families of young women”, said Jonathan Dyer, a Principal at CIC. “InnerChange’s new partnership with Cressey is a solid foundation to continue leading the behavioral healthcare services industry.”
Drew Johnson, Managing Partner of CIC, commented “Since our initial acquisition in 2006, we made three acquisitions and expanded two existing programs to broaden the reach of our services and provide quality outcomes for young women and their families. We were fortunate to work with a great management team throughout our ownership and are grateful for their dedication and partnership.”
About CIC Partners
CIC Partners is a middle-market private equity firm that invests in growth-oriented companies primarily in the food, restaurant, healthcare and energy industries. CIC manages the personal capital of its investment team, Operating Partners and strategic investors and seeks to partner with owner-operators, founders and management teams. CIC looks for opportunities where it can leverage the collective experience of its investment team and its Operating Partners, who are successful CEO’s and entrepreneurs, to guide, support and add value to portfolio companies. Based in Dallas, Texas, the firm has been generating wealth in private-equity investing for its investors and management teams for over 25 years. For additional information, please visit www.cicpartners.com.
InnerChange is a nationally recognized residential treatment provider offering clinically sophisticated therapeutic services and accredited academics to young women with behavioral, emotional and substance abuse problems. Headquartered in Orem, Utah, the company operates treatment programs throughout Utah and Texas that provide residential treatment services to young women and their families. The Company’s programs are fully accredited by the Joint Commission on Accreditation of Healthcare Organizations and licensed by state healthcare and educational agencies. For more information, please visit www.innerchange.com.