Harris Williams Advises Bradford Health Services on its Sale to Lee Equity Partners, LLC

Rhea-AI Summary

Harris Williams announced its advisory on the sale of Bradford Health Services, a leading provider of substance use disorder treatment, to Lee Equity Partners. Based in Birmingham, Alabama, Bradford operates a network of 40 facilities across the Southeast, providing comprehensive treatment services. The investment reflects the increasing demand for behavioral health services. Centre Partners, a private equity firm, previously partnered with Bradford to enhance its growth trajectory. The deal signifies a strategic move to further develop Bradford's ability to address the substance use epidemic in the U.S.

Positive

• Sale of Bradford Health Services to Lee Equity Partners indicates strong investor interest in the behavioral health sector.
• Bradford Health operates 40 facilities, positioning it as a substantial player in substance use disorder treatment in the Southeast.

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• None.

RICHMOND, Va.--(BUSINESS WIRE)-- Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Bradford Health Services (Bradford Health), a portfolio company of Centre Partners, on its sale to Lee Equity Partners, LLC (Lee Equity). Based in Birmingham, Alabama, Bradford Health is a leading substance use disorder treatment provider in the Southeast. The transaction was led by Whit Knier, James Clark, Taylor Will and Teddy Reeve of the Harris Williams Healthcare & Life Sciences (HCLS) Group.

“Behavioral health continues to be an attractive industry for investors and strategic buyers alike given the pervasive unmet demand for services across our country. Bradford Health uniquely addresses key problems plaguing the country’s substance use disorder epidemic by offering greater access to high-quality and compassionate care that spans the continuum from detox, inpatient, and outpatient services,” said Whit Knier, a managing director at Harris Williams. “It was a pleasure working with the teams at Bradford Health and Centre Partners, and we look forward to the company’s next chapter in partnership with Lee Equity."

“Together, Bradford Health management and Centre Partners built the leading provider of substance use disorder treatment in the Southeast, and the company’s new partnership with Lee Equity represents an exciting opportunity to continue the momentum Bradford Health has built over the past several years,” added James Clark, a managing director at Harris Williams. “We look forward to following Bradford Health’s ongoing success as it continues to provide much needed care and positively impact the lives of the patients it serves on a greater scale.”

Bradford Health is one of the largest and longest-tenured providers of substance abuse treatment and recovery services in the Southeast. Through a coordinated network of 40 facilities, Bradford Health offers affordable, proven 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.

Founded in 1986, Centre Partners is a leading middle market private equity firm focusing on the consumer and healthcare sectors, with offices in New York and Los Angeles and approximately $2.6 billion of equity capital invested in over 89 transactions. Centre Partners seeks to partner with founders, families, entrepreneurs and management teams to build exceptional businesses. Centre Partners provides management teams access to its unique resources, which includes an extended network of experienced and proven operating executives.

Lee Equity is a New York-based private equity firm that partners with successful management teams to build companies with strong growth potential. Lee Equity 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. The firm invests in a range of industries where the team has deep relationships developed over decades, including business services, financial services, and healthcare services.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

The Harris Williams HCLS Group has experience across a broad range of sectors, including healthcare providers; payors and payor services; outsourced pharmaceutical services; medical device supply chain; healthcare IT; and pharmacy. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221031005782/en/

For media inquiries, please contact Julia Moore at media@harriswilliams.com.

Source: Harris Williams

FAQ

What was the recent transaction involving Bradford Health Services?

Bradford Health Services was sold to Lee Equity Partners, advised by Harris Williams.

Who advised the sale of Bradford Health Services?

Harris Williams, a global investment bank, advised on the sale.

What does Bradford Health Services provide?

Bradford Health provides substance use disorder treatment across a network of 40 facilities.

What is the significance of the acquisition by Lee Equity Partners?

The acquisition reflects the growing demand for behavioral health services in the U.S.

Who was involved in the transaction alongside Harris Williams?

Centre Partners was the previous partner of Bradford Health Services prior to the sale.