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Hearthstone Assisted Living, Inc. |
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Situation:
Hearthstone Assisted Living, Inc., a Houston based developer
and operator of assisted living facilities for seniors of moderate
income, had strong industry growth prospects and an experienced
management team with a proven reputation. It required
capital for expansion.
Solution:
Mr. Crihfield made an initial institutional investment in Hearthstone.
A subsequent financing round brought in additional equity capital
and substantial senior financing.
Result:
During the investment period, the management
team was strengthened and the concept was rolled out in the
marketplace. The quality of the company resulted in an
excellent valuation in the recapitalization. The valuation
at the date of the recapitalization was sufficiently attractive
to warrant liquidity earlier than anticipated.
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