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| Boulder-based Correctional Management Inc. acquired for $35M |
| By bizwest.com- Joshua Lindenstein |
| Published: 04/12/2016 |
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BOULDER — Corrections Corporation of America (NYSE: CXW), one of the largest prison operators in the country, announced on Monday that it has acquired Boulder-based Correctional Management Inc. for $35 million. CMI operates seven facilities in Colorado, including the Boulder Community Treatment Center, 1770 21st St., and the Longmont Community Treatment Center, 236 Main St. CMI’s facilities provide community corrections and non-residential day-reporting services that are focused on helping clients with substance-abuse problems and criminal backgrounds re-integrate into their communities. The company has contracts with Boulder, Denver and Arapahoe counties, as well as the Colorado Department of Corrections. As part of the deal, CCA acquired the real estate for six of the seven facilities run by CMI. Boulder County property records show the Longmont facility sold for roughly $2 million, while the Boulder facility is owned by the county. Read More. |
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