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PRINT THIS PAGE North Castle, DLJ Merchant Banking to sell CRC Health Group in $720m transaction14/10/2005. Source: AltAssets. 
 North Castle Partners and DLJ Merchant Banking Partners have agreed to sell CRC Health Group to Bain Capital in a transaction valued at $720m. North Castle and DLJ Merchant Banking initially invested in CRC in August 2002. CRC represents North Castle's largest realisation to date, the firm said in a statement.
North Castle brought additional investors into CRC throughout its time of ownership, including Ontario Municipal Employee Retirement System and Northwestern Mutual Life Insurance Company.
Cupertino, California-based CRC provides drug and alcohol treatment services. The company operates more than 90 residential, outpatient and opiate treatment centres.
North Castle focuses on investments in consumer and healthcare businesses that benefit from healthy living and aging trends. To date, North Castle has invested more than $1bn in companies focusing on healthcare, healthy food and beverages, nutritional supplements, natural personal care products, day spas, fitness clubs and equipment, and luxury travel.
DLJMBP invests in leveraged buy-outs and related transactions across a range of industries. The firm is part of Credit Suisse First Boston's Alternative Capital Division.
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