BRAINTREE, Mass. — Senior Living Residences (SLR), a Braintree-based senior living organization operating 24 communities across the Northeast, has partnered with healthcare-focused private equity firm RiverGlade Capital in a transaction designed to support the company’s continued growth.
Financial terms of the transaction were not disclosed. The deal closed in July.
SLR will continue to operate under its existing name and maintain its current leadership team. The partnership is expected to provide the senior living organization with additional resources to advance its growth strategy while maintaining its existing approach to resident care and community operations.
SLR operates communities offering independent living, assisted living and memory support services. For nearly four decades, the company has developed and operated service-enriched senior living communities throughout New England and the broader Northeast.
“Everything we do at SLR is guided by our Right Values which includes putting resident quality of life first, treating every associate as a valued professional, and holding ourselves to the highest standard of integrity and innovation in how we care for seniors,” said Tadd Clelland, president and CEO of Senior Living Residences.
“This partnership with RiverGlade gives us the resources to invest even further in those commitments, so we can keep growing in the same way we always have: the right way, allowing us to maintain a high-touch, high-value culture,” Clelland said.
The partnership brings SLR together with RiverGlade Capital, a private equity firm focused on healthcare and healthcare-adjacent businesses. RiverGlade typically partners with founder-led, lower middle-market companies and seeks to support growth through investments in people, operational improvements, strategic planning and both organic and acquisition-driven expansion.
For SLR founder Robert Larkin, the transaction represents an opportunity to build on the foundation established over the company’s nearly 40-year history.
“I’m proud of starting a company that has been built to last,” Larkin said. “The people who share our SLR Right Values have created a foundation for future success while keeping our promises to all stakeholders.”
RiverGlade said SLR’s established reputation and regional presence made the company a strong fit for its investment strategy.
“SLR has built a reputation for high-quality care and strong community leadership, and we’re excited to support their continued growth across the Northeast,” said Garrick Rice, managing partner of RiverGlade Capital.
SLR currently operates 24 senior communities throughout the Northeast, including its Compass Memory Support Neighborhoods®, which provide specialized memory support services.
The partnership comes as senior living operators continue to navigate growing demand for housing and care options for an aging population. For SLR, the investment is expected to support further expansion while allowing the organization to retain its existing leadership structure and operating identity.
Based in Braintree, SLR has spent nearly four decades developing service-enriched independent living, assisted living and memory support options for seniors. The company’s portfolio currently spans the Northeast, with communities designed around resident services, programming and support.
RiverGlade Capital invests in growth-oriented healthcare companies and works with management teams to pursue operational and strategic growth opportunities. The firm’s investment in SLR adds an established senior living platform to its healthcare portfolio and gives SLR a financial partner as it looks to expand its presence across the region.
