Senior living firm, approaching $500M in revenue, picks up private equity investment

Funds connected to a New York private equity firm are investing in Bonita Springs-based Discovery Senior Living in a recapitalization of the $455 million company. 

The private equity firm, Lee Equity Partners, was joined by Coastwood Senior Housing Partners in the investment in Discovery, according to a statement. Financial terms of the investment weren’t disclosed. Coastwood Chairman Dan Decker will chair the Discovery Senior Living board upon closing, the release adds.