New York-based private equity firm Lee Equity Partners announced its acquisition of a majority ownership interest in Bradford Health Services, a substance use disorder treatment and recovery services provider in Birmingham, Alabama. Lee Equity acquired the company from private equity firm Centre Partners and certain other investors, with Centre Partners maintaining an ongoing equity stake. Terms of the transaction were not disclosed.
Will & Emery acted as legal counsel to Lee Equity. Harris Williams and Coker Capital served as advisors and Dechert LLP and Burr Forman LLP acted as legal counsel to Bradford Health. Fifth Third and Comvest provided financing for the transaction.
Through a coordinated network of 40 facilities, Bradford Health offers affordable treatment services across the entire spectrum of acuity, including early intervention services, crisis response, intensive outpatient care, partial hospitalization and residential care, inpatient detox and transitional living and life skills programming.
Lee Equity Partners targets equity investments of $50 million to $150 million in middle-market control buyouts and growth capital financings in companies with enterprise values of $100 million to $500 million that are located primarily in the United States.
According to the LevinPro HC database, this marks the 89th Behavioral Health Care transaction of 2022 and the 36th in the substance use subsector. The largest acquirer of substance use providers of the year has been BayMark Health Services, which has made five acquisitions in the subsector since January.
