Monroe Capital announced the acquisition and recapitalization of Ascent Behavioral Health (“Ascent”), in partnership with Cimarron Healthcare Capital and Ascent’s management team.  Monroe Capital acted as sole lead arranger and administrative agent of the senior credit facility and co-invested equity alongside Cimarron Healthcare Capital to support the transaction.

Founded in 1989 and based in Salt Lake City, Utah, Ascent provides wilderness therapy, residential treatment and therapeutic boarding school programs for adolescents with mental health issues such as depression, anxiety and attachment disorder throughout the state. Ascent was built by mission-driven founders on principles committed to clinical quality and superior outcomes based on its experiential therapeutic approach.

This transaction is representative of Monroe Capital’s vertical which focuses on providing equity co-investments alongside debt financing for business owners, sponsors and independent sponsors to support acquisitions, mergers, business combinations and recapitalizatistment team promotions