H.I.G. Capital Noticias
H.I.G. Growth Partners Portfolio Company Community Intervention Services Acquires Family Behavioral Resources
BOSTON, MA – February 19, 2013 – H.I.G. Growth Partners ("H.I.G."), the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global private equity investment firm, is pleased to announce that its portfolio company, Community Intervention Services, Inc. ("CIS" or the "Company"), has completed the acquisition of Family Behavioral Resources, Inc. (“FBR”). CIS was established by H.I.G. in partnership with veteran behavioral healthcare executive Kevin Sheehan, to acquire, develop and operate a national network of community-based mental health and substance abuse treatment programs. FBR marks CIS's third acquisition and provides the Company with a strong regional presence in the Mid-Atlantic and a beachhead into the Midwest.
Headquartered in Greensburg, PA, FBR was founded in 1999 and has since grown into a leading provider of community-based outpatient behavioral health services delivered primarily in the patient’s natural environment such as the home or educational setting. FBR specializes in providing Behavioral Health Rehabilitation Services ("BHRS") to children and adolescents, with a particular focus on serving individuals on the autism spectrum. Throughout FBR's 13-year operating history, they have developed a strong brand name in their markets as well as a reputation for clinical quality and effectiveness with payors, state agencies, referral sources and clients. FBR provides services through a network of 27 locations across western and southern PA, employs a clinical staff of over 1,200 clinical therapists, qualified behavioral health professionals and developmental educators who provided treatment to over 7,500 patients in 2012.
“I couldn't be more excited about the partnership with both CIS and H.I.G.," said Rick Murray, President & COO at FBR. "We now have access to the capital and the operational support that will enable us to accelerate our growth, and more importantly, support more consumers and families. Further, the standards of excellence and vision for changing lives that exist at CIS align perfectly with the mission and values that FBR was founded upon."
Kevin Sheehan, CEO of CIS, commented that "FBR represents an ideal acquisition for CIS. Rick and his team have built a strong company, and their deep experience in providing autism services will provide CIS with an important clinical tool as we expand the platform and strive to meet a vastly unmet need for community-based services. We are hopeful that we will continue to find more acquisitions like FBR to further accelerate our expansion into new regions."
About Community Intervention Services
Community Intervention Services, Inc. ("CIS") was formed to acquire, develop and operate a national network of community-based mental health and substance abuse treatment programs. CIS is backed by H.I.G. Growth Partners and led by its Chief Executive Officer, Kevin Sheehan, the founder and former Chairman, President and CEO of Youth & Family Centered Services, Inc. ("YFCS"). YFCS was a national provider of behavioral health services to infants, children and adolescents, operated across 9 states and provided services daily to over 4,400 patients.
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 over $10 billion of capital under management and offices in Miami, Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., and affiliate offices in London, Hamburg, Madrid and Paris in Europe as well as Rio de Janeiro in South America. With $500 million of committed capital, Growth Partners seeks to make both majority and minority equity investments ranging from $5 million to $30 million in strong, growth-oriented businesses with between $10 million and $100 million in revenues. Growth Partners considers investments across all industries, but focuses on certain high-growth sectors where the team has extensive in-house expertise such as healthcare, technology, internet and media, consumer products and technology-enabled financial and business services. Growth Partners strives to work closely with our management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com