Hidden River Strategic Capital Announces Investment in Northstar Senior Living to Support Merger with Alta Senior Living

RADNOR, Pa., June 2, 2026 /PRNewswire/ -- Hidden River Strategic Capital ("Hidden River") is pleased to announce an investment in Northstar Senior Living ("Northstar") in connection with Northstar's merger with Alta Senior Living ("Alta"). The combined company will operate as Northstar Senior Living.

The company is a senior living management platform that provides management services to assisted living, memory care, and independent living communities under long term contracts with community owners.

Founded in 2008 and based in Redding, California, Northstar has built a strong operating platform across the U.S., supported by deep sector expertise, longstanding customer relationships, and meaningful experience managing senior living communities. Through the merger, Alta will join the Northstar platform, broadening the combined company's geographic and operational reach. Founded in 2019 and headquartered in North Palm Beach, Florida, Alta manages a complementary portfolio of communities and maintains strong industry relationships and business development capabilities that will supplement the combined company's next phase of growth.

Hidden River's investment consisted of debt and convertible preferred equity. The Hidden River transaction provides the merged company with a flexible capital partner as it integrates operations, invests in technology and operating systems upgrades, expands its geographic footprint, and pursues additional growth opportunities in the senior living management sector. The combined company will be owned and led by management; Northstar's executive team will run day-to-day operations and Doug Brawn, CEO of Alta, will serve as Board Chair.

"Alta is excited to join forces with Northstar and Hidden River to build a larger, more attractively positioned senior living management platform," said Doug Brawn. "Northstar has an outstanding reputation as an operator, and we believe the combination of Northstar's management experience with Alta's capital markets relationships and growth orientation creates a strong foundation for future expansion."

"Northstar represents the type of business Hidden River seeks to support: a differentiated company with a durable, recurring model and meaningful opportunities for growth," said Steve Gord, Partner at Hidden River Strategic Capital. "We are pleased to partner with the merged company's leadership team to support their continued success."

About Hidden River Strategic Capital
Hidden River Strategic Capital is a suburban Philadelphia-based private equity firm that provides flexible equity and debt capital to owner-operated lower middle market businesses. Known for its partnership-oriented approach and customized capital solutions, Hidden River invests in a variety of industries, with a strong preference for unique, repeatable, and durable business models. The Fund's investments are typically used to support growth initiatives, add on acquisitions, and recapitalizations. For more information, please visit www.hiddenrivercap.com.

Business and Media Inquiries:
Graham Bachman
Managing Director, Head of Business Development
Hidden River Strategic Capital
Email: [email protected]
Phone: 484-453-3134

SOURCE Hidden River Strategic Capital