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September 23, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Clearwater Capital Fund acquires Arizona substance abuse treatment provider

Stamford’s Clearview Capital Fund III LP and managers from Community Medical Services Holdings LLC of Scottsdale, Arizona have acquired the latter from its ‘inactive’ majority owners for an undisclosed amount.

CMS is a provider of medication-assisted treatment programs for patients suffering from substance use disorders. Operating across four states, the company provides services to more than 4,000 individuals from 14 comprehensive treatment centers, including the nation’s first 24-hour opioid treatment program.

Fund III partnered with Holdings LLC management to acquire the business from the inactive majority interest, who did not maintain an ongoing stake in CMS. CEO Nick Stavros will continue to lead the management team and maintain ownership in the company.

CMS is the 10th platform investment in Clearview Capital Fund III, a $325 million committed fund raised in 2013. Clearview Capital sourced the transaction from Quarton International, which advised the seller.