31 Jan 2022
Monarch House acquired by Venn Growth Partners and BDC Capital
Monarch House Ltd., a Canadian provider of behavioural health services specializing in autism spectrum disorder (ASD) for children and youth, was acquired on January 31, 2022, by Venn Growth Partners and BDC Capital. The transaction transformed Monarch House into an independent entity while maintaining its status as a Canadian-owned private company.
Chelsea Ganam, President of Monarch House, expressed enthusiasm for the acquisition's potential to expand the network's reach and enhance service delivery for families across Canada. Rachel Koffman, COO, echoed this sentiment, emphasizing growth through new site development and acquisitions.
Jonathan McCarthy of Venn Growth Partners highlighted the pressing need for such services amid growing waitlists and insufficient supports, despite increased government funding for ASD. The company's objective is to provide value-based care and top-tier services.
Loren Rafeson from BDC Capital remarked on the heightened need for mental and behavioural health services, especially in the context of the COVID-19 pandemic, and the critical role of early intervention.
The existing management and clinical staff will remain, ensuring continuity in services for clients. Jon Hantho, President and CEO at CBI Health, endorsed the selection of Venn and BDC Capital as the right partners to advance Monarch House's mission.
The financial terms of the acquisition were not disclosed. Legal advice was provided to Venn Growth Partners and BDC Capital by Blake, Cassels & Graydon, with EY LLP acting as financial advisor. DLA Piper served as counsel to CBI Health.