Civitas Solutions, Inc. (NYSE: CIVI) has Entered into a Definitive Agreement to be Acquired by Centerbridge Partners, L.P.
December 21, 2018
Civitas Solutions, Inc. (NYSE: CIVI) is the leading national provider of home- and community-based health and human services to must-serve individuals with intellectual, developmental, physical or behavioral disabilities and other special needs. Centerbridge Partners has agreed to acquire Civitas for $17.75 per share or total consideration of approximately $1.4 billion. The transaction was unanimously approved by Civitas’ Board of Directors and is expected to close in first half of 2019, subject to shareholder approval, expiration or termination of waiting periods under Hart-Scott-Rodino, and other customary closing conditions. Cain Brothers served as lead financial advisor to Centerbridge and KeyBanc Capital Markets will serve as a joint lead arranger for the transaction financing.
The transaction was Cain Brothers’ sixth transaction announcement in the behavioral health sector in 2018 and further builds upon our long history of serving the leading providers and investors within this important subsector of healthcare.
Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines — from private equity to credit and related strategies, and real estate. The Firm was founded in 2005 and as of September 2018 had approximately $27 billion in capital under management with offices in New York and London.