Comvest Credit Partners, a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it has acted as Joint Lead Arranger on a senior secured credit facility for Bradford Health Services, a Birmingham, Ala.-based provider of behavioral health services. The Financing was used to fund the acquisition of the Company by private equity firm Lee Equity Partners and support the future growth needs of the business.
Founded in 1977, Bradford is a leading regional provider of substance abuse treatment services for adults and young adults, with 40 facilities across five Southeastern states. Bradford offers a variety of specialized addiction rehabilitation programs that span the full continuum of care, including crisis intervention, residential treatment, transitional living, partial hospitalization, and intensive outpatient treatment.
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“As an active and experienced credit investor in the behavioral health space, Comvest is pleased to underwrite another meaningful facility for a leading company in that market,” said Bryce Peterson, a Managing Director at Comvest and Co-Head of the Healthcare group. “Bradford is a long-tenured regional market leader that has developed a strong and scalable treatment model through its subject matter expertise, network of residential centers and outpatient facilities, and specialized rehabilitation treatment services.”
“We look forward to working with Lee Equity Partners, an experienced sponsor in the behavioral health sector, and continuing to build our relationship with the team in support of Bradford’s continued growth,” said Tom Goila, a Partner at Comvest and Co-Head of the Healthcare group.
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About Lee Equity Partners
Lee Equity Partners, LLC 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.
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