Inperium Announces Section 363 Transaction

Conexio Care, Inc., an affiliate of Inperium, Inc., has acquired all of the business of Connections Community Support Programs, Inc. (“CCSP”), Delaware’s largest nonprofit human services provider. The transaction was concluded pursuant to Section 363 of the Bankruptcy Code. Conexio Care served as the stalking-horse bidder and acquired the business of CCSP for $12,725,000.

Conexio will provide a comprehensive array of healthcare, housing, and employment opportunities to assist individuals and families in achieving their goals. These services will be provided by approximately 1,100 staff working from more than 100 locations state-wide.

This transaction, which was the tenth executed by Inperium and introduced by Angler West, is expected to add approximately $72.5 million to Inperium’s consolidated revenues. Discussing this latest transaction, Inperium Chief Executive Ryan Smith commented: “We are pleased to be moving forward with this acquisition that will position Conexio for sustained, long-term success. The COVID crisis demonstrated conclusively that the services offered by Conexio are essential”.