Lee Equity Partners and Coastwood Senior Housing Partners Announce Agreement to Invest in Discovery Senior Living


The October 2 transaction is part of a new venture to support the strategic expansion of Discovery Senior Living’s national portfolio.

Featured image for Discovery Senior Living

Featured image for Discovery Senior Living

BONITA SPRINGS, Fla., Oct. 13, 2022 (GLOBE NEWSWIRE) — Funds advised by Lee Equity Partners, LLC (“Lee Equity”) and Coastwood Senior Housing Partners, LLC (“Coastwood”), two specialty investment firms, announced the signing of an agreement to invest in Discovery Senior Living (“Discovery”), one of the nation’s largest and most innovative senior housing operators. The recapitalization will fund Discovery’s continued expansion and operational platform enhancements as it positions itself to meet the changing needs of all industry players and capitalize on the myriad of opportunities in the industry. in full maturity.

This partnership will usher in the next step in Discovery’s journey to expand its proprietary national and regional brand management structure, enhance its experiential living operating programs, as well as continue the evolution of its industry-leading business processes on delivering a modernized platform that produces more transparent and predictable results.

“This strategic recapitalization deliberately combines the strengths and successful experiences of three companies and the resulting innovation-driven efforts will accelerate Discovery’s ability to execute on its vision to create a large-scale company that outperforms the market, addresses some of the legacy industry paradigms and of course focuses on delivering a personalized and holistic experience to residents and team members,” said Richard J. Hutchinson, CEO of Discovery Senior Living.

“Discovery Senior Living represents the ideal platform to build a leading national senior living operator due to the strength of its team, centralized services and national and regional branded operating structure. tailwinds to secular growth and consolidation opportunities within management those we have seen in the third-party hotel management sector with our investment in Aimbridge Hospitality.We seek to replicate this success in partnership with Richard Hutchinson and the Discovery team, along with Dan Decker and the Coastwood team,” said Yoo Jin Kim, Partner, Lee Equity Partners.

“We believe the partnership between Discovery, Coastwood and Lee Equity will be unique in the retirement living industry. Discovery brings its highly scalable platform and best-in-class retirement living operations. decades of investment and experience in retirement living. Lee Equity brings expertise in commercial and healthcare services as well as buying and building experience. We are excited to combine our capabilities to lead the industry with improved quality of care, technology innovation and data-driven outcomes,” said Dan Decker, President, Coastwood Senior Housing Partners, LLC. Mr. Decker will assume the role of Chairman of the Board of Discovery Senior Living at the close.

Hutchinson also added, “After nearly 30 years of working in this industry, I couldn’t be more excited about advancing the natural evolution of our business and our industry and I believe we will continue to attract the most forward-thinking owners and capital partners, and people who want to be part of our vibrant culture and the future of our industry.”

The family of companies in the agreement includes Discovery Management Group, Morada Senior Living, TerraBella Senior Living, Discovery Development Group, Discovery Design Concepts, Discovery Marketing Group and Discovery At Home, a Medicare-certified home healthcare company. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the fourth quarter of 2022.

Headquartered in Southwest Florida, Discovery Senior Living currently owns and operates a national multi-brand portfolio of more than 110 communities in 19 states.

About Discovery Senior Living

Discovery Senior Living is a family of companies that includes Discovery Management Group, Morada Senior Living, TerraBella Senior Living, Discovery Development Group, Discovery Design Concepts, Discovery Marketing Group and Discovery At Home, a Medicare-certified home healthcare company. With nearly three decades of experience, the award-winning management group develops, builds, markets and operates high-end senior living communities across the United States. Leveraging its innovative “Experiential Living” philosophy across a growing portfolio of over 15,000 homes in existence or under development, Discovery Senior Living is a recognized industry leader in lifestyle customization and, today ranks among the top 10 senior living operators and providers in the United States. .

About Lee Equity Partners

Lee Equity Partners, LLC is a New York-based private equity firm that partners with successful management teams to build companies with high growth potential. Lee Equity targets equity investments of $50-150 million in mid-market takeover buyouts and growth capital financings in companies with an enterprise value between $100-500 million that are mainly located in the United States. The firm invests in a range of industries where the team has deep relationships developed over decades, including business services, financial services and healthcare.

About Coastwood Senior Housing Partners, LLC

Coastwood Senior Housing Partners, LLC is an investment firm led by Daniel A. Decker specializing in senior housing and related services. Coastwood’s partners have extensive investment experience in the senior housing and healthcare services sectors, including investments in Omega Healthcare Investors (OHI), Sunrise Senior Living and Sentio, as well as experience on the board of directors of various public and private health services companies.

Contact information:
Heidi LaVanway
Vice President of Marketing
hlavanway@discoverymgt.com
239.301.5330

Related Files

DSL_PressRelease_LeeEquity_CoastWood_Partnership.pdf

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Figure 2: Lee Equity Partners, LLC

Image 3: Coastwood Senior Housing Partners, LLC

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