- January 2, 2013
- Posted by:
500 Boylston Street
Boston, MA 02116
MIAMI – January 2, 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 Access Family Services, Inc. (“Access”). 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. Access marks CIS’s second acquisition and provides the Company with a strong regional presence in the Southeast.
Headquartered in Charlotte, NC, Access was founded by Derek Bullard 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 as well as through outpatient day treatment facilities which serve as an alternative learning environment for children and adolescents who have been unsuccessful in the public school system due to serious behavioral issues. Over the company’s 13-year operating history they have developed a strong reputation for clinical effectiveness with payors, state agencies, referral sources and clients. Access currently provides services in 6 markets across North Carolina, employs a clinical staff of over 100 clinical therapists, qualified behavioral health professionals and developmental educators who provided treatment to well over 1,000 patients in 2012.
“I am very excited about the partnership with both CIS and H.I.G. and believe that our organization will benefit greatly from their involvement." said Mr. Bullard. "The strength of the CIS platform as well as the team’s extensive operational expertise and ability to invest additional capital will enable us to build a leading presence in the Southeast and significantly expand the delivery of care to our target patient base."
Kevin Sheehan, CEO of CIS, commented that "Access represents an ideal acquisition for CIS. Derek and his team have built a great company with an intense focus on clinical quality and we are confident that we will be able to partner with them to accelerate growth as we continue to build CIS’s national footprint."
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 operating 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.