San Diego, CA, (September 25, 2014) - Huntington Capital, L.P (“Huntington”), a San Diego based lower-middle market mezzanine fund, has announced the exit of one of its portfolio companies, Autumn Years at Newport Mesa (“AYNM”) which is located on the border of Costa Mesa and Newport Beach. The residential care facility was sold to the Pacifica Companies which is headquartered in San Diego. AYNM is a leading provider of memory care in in the “boutique” or smaller end of the market in Southern California. The 40-bed facility offers services for Alzheimer’s and other memory-impaired conditions for seniors who can no longer care for themselves. Since its inception in 1999, AYNM has developed an excellent reputation as a market leader in senior care and is perhaps best known for training medical professionals who took care of President Reagan during his final years.
Huntington partnered with the AYNM management team to train personnel and install new operating systems as well as enhance the living environment. Additionally, management, implemented best of class industry operating standards which drove improvements in operating metrics and growth in occupancy levels. Morgan Miller, Managing Partner, and Hope Mago, Sr. Associate, lead the transaction for Huntington.
Miller commented, “During the 2008 to 2012 economic recession this facility suffered reduced occupancy levels as resources for long term residential care diminished. However, Bruce Guyette of AYNM and his team persisted in this difficult environment making the project a success by improving both quality of care and key operating metrics. This investment reflects Huntington’s philosophy of providing its investors with favorable economic returns along with a positive impact on the communities that we serve”.
Autumn Years at Newport Mesa:
Autumn Years at Newport Mesa is a 40-bed facility that offers memory-impaired living services for individuals who can no longer care for themselves. Since its inception in 1999 Autumn Years has developed a reputation as a market leader in impaired-memory of care.
Based in San Diego, CA, Huntington Capital is a leading mezzanine capital provider to lower-middle market companies throughout California and the Western United States. Founded in 2000, Huntington is currently operating out of its third fund, Huntington Capital Fund III, L.P. a vintage 2013 fund, with capital commitments from a group of leading institutional investors. Huntington seeks to invest in established lower-middle market businesses generating between $10 million and $75 million in revenues across a broad range of industries. Investments are typically structured in the form of growth capital, buyout or acquisition financing ranging between $2.0 million and $7.0 million. The firm has invested in approximately 55 companies since its founding. For more information, please visit the company website at www.huntingtoncapital.com. Managing Partners for Huntington are Morgan Miller, Jr. and Tim Bubnack.