GE Capital Finances Acquisition of Futures Behavior Therapy Center, LLC by Community Intervention Services, Inc.
September 02 2015 - 8:00AM
Business Wire
GE Capital’s Healthcare Financial Services (HFS) business
announced today that it served as administrative agent on a $55
million senior credit facility to recapitalize the Community
Intervention Services, Inc. (CIS) balance sheet, support CIS’s
acquisition of Futures Behavior Therapy Center, LLC and provide
additional capacity for targeted acquisitions. GE Capital Markets
served as sole lead arranger and bookrunner on the transaction.
CIS, based in Austin, TX, is a leading provider of behavioral
health services that cares for more than 50,000 patients annually.
CIS was established by private equity firm H.I.G. Growth Partners,
in partnership with behavioral healthcare executive Kevin Sheehan,
to acquire, develop and operate a national network of specialized
behavioral health treatment facilities and programs.
Headquartered in Beverly, MA, Futures Behavior Therapy Center is
a clinic-based provider of treatment and education services for
children with autism spectrum disorders and other developmental
disabilities.
“Futures marks CIS' sixth acquisition and further expands our
treatment capabilities," said Kevin Sheehan, CEO of CIS. “It was a
pleasure to work with the HFS team due to its deep understanding of
the healthcare industry, particularly in the area of behavioral
health.”
“This transaction demonstrates our extensive experience and
continued commitment to the behavioral healthcare sector,” said Al
Aria, senior managing director of corporate finance at GE Capital,
Healthcare Financial Services. “We look forward to
collaborating further with CIS and H.I.G. and supporting their
growth objectives.”
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital
investment affiliate of H.I.G. Capital, a leading global private
equity investment firm with $19 billion of capital under
management, based on total capital commitments to funds managed by
H.I.G. Capital and its affiliates. It’s based in Boston. For more
information, please refer to its website, www.HIGgrowth.com.
About GE Capital, Healthcare Financial Services
Healthcare Financial Services (HFS) is one of the most active
capital providers in the U.S. healthcare market, deploying
approximately $10.5 billion in new commitments to customers via
240+ transactions in 2014. That adds up to more than $80 billion in
financing over the past 11 years. For the third consecutive year,
HFS was the top lead arranger for financings up to $1 billion in
U.S. healthcare leveraged finance.
On Aug. 11, 2015, GE announced that it had reached a definitive
agreement to sell HFS to Capital One. The combination of HFS and
Capital One’s healthcare teams will create an expanded set of
financing solutions for the healthcare industry. To read the GE
release, click here. To read the Capital One release, click
here.
Customers across 45 healthcare sectors — including senior
housing, hospitals, medical offices, outpatient services,
pharmaceuticals and medical devices — rely on HFS to finance
acquisitions, refinance existing debt, support working capital
needs and fund growth initiatives. With in-depth industry knowledge
and expertise, the HFS team of professionals creates business and
financial solutions tailored to meet the individual needs of its
customers. For more information, visit gecapital.com/healthcare or
follow company news via Twitter
(http://twitter.com/GELendLease).
GE Capital offers customers around the globe an array of
financial products, services and insights to help them grow their
businesses.
GE (NYSE:GE) imagines things others don’t, builds things others
can’t and delivers outcomes that make the world work better. GE
brings together the physical and digital worlds in ways no other
company can. In its labs and factories and on the ground with
customers, GE is inventing the next industrial era to move, power,
build and cure the world. www.ge.com
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version on businesswire.com: http://www.businesswire.com/news/home/20150902005108/en/
GE Capital, Healthcare Financial ServicesMaria C. Moreno,
301-664-9859mariac.moreno@ge.comorGE CapitalLisa Tibbitts,
203-956-4582lisa.tibbitts@ge.comorH.I.G. Growth
PartnersNicholas Scola, 617-262-8455nscola@HIGgrowth.com
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