Longbranch Sale to Abacus

a leading provider of addiction treatment services

has been acquired by

Background

Evangeline Securities (“Evangeline”) was engaged by Longbranch Retreat and Recovery Center, LLC (the “Company”), headquartered in Metairie, LA, to run an auction process for a majority stake sale of a leading provider of addiction treatment services
The Company, founded in 2017, offers individualized treatment to both men and women through a variety of evidence-based modalities and trauma-intensive therapies for long-term sobriety
The primary shareholders (the “Owners”), including the Chairman of the Company, requested a robust auction process to sell a majority stake to a private equity group with specific experience in the addiction treatment space, while retaining a material minority stake

After performing a full valuation analysis for the Company, Evangeline launched a robust auction process, personally contacting over 200 institutional players with approximately 100 NDA’s signed
The auction process proved extremely successful, leading to multiple offers from institutional investors all over the country despite the Company’s relatively limited operating history, geographic focus and customer concentration

The Company was excited to partner with Abacus Investments (“Abacus”) out of Birmingham, AL, particularly due to Abacus’ significant experience in the addiction treatment and recovery industry
Per Chairman Christopher D. McMahon, Evangeline’s “exceptional financial advisory services were critical to the successful closing of this exciting transaction, which will allow Longbranch, in partnership with Abacus, to expand our multi-faceted treatments into new regions”