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Coker Capital Advisors Advises Bradford Health Services in its Recapitalization by Centre Partners

 

Atlanta, GA /Charlotte, NC/New York, NY –

 

Coker Capital Advisors announced today that Bradford Health Services (“Bradford”) has completed a recapitalization transaction with Centre Partners (“Centre”), a leading middle market private equity firm. Coker Capital acted as the exclusive financial advisor to Bradford in the transaction. Centre’s investment in Bradford, in partnership with existing management, will provide support and capital for expanding Bradford’s clinical footprint while continuing to provide the highest quality of clinical services to patients.

Based in Birmingham Alabama, Bradford Health is one of the largest providers of substance abuse treatment and recovery services in the southeastern United States. With an operating history dating to 1977, Bradford Health operates as one of the longest-tenured substance abuse treatment providers in the country and maintains unparalleled name recognition within its core markets. The Company now operates 30 clinical facilities in six states, including two inpatient facilities, 24 outpatient facilities, a transitional living facility, and three substance abuse treatment units managed under contracts with acute-care hospitals. Through this coordinated network of facilities, Bradford Health provides treatment services across the entire continuum of care.

“The decision to hire Coker Capital was absolutely critical to the success of this transaction” said Clay Simmons, Chief Executive Officer of Bradford. “Their senior team was involved from start to finish and invested heavily in understanding the various goals of our shareholders. They provided sound advice throughout the process and crafted a transaction strategy that allowed for all of Bradford’s constituents to realize a successful outcome.”

This transaction represents Coker Capital’s second closed behavioral health sellside M&A transaction in 2016 and its eighth closed behavioral health M&A transaction since 2013, making it the most active sellside M&A advisor in the sector since 2013.

NXT Capital provided debt financing on the transaction. Jones Walker LLP acted as legal advisor to Bradford, and Dechert LLP acted as legal advisor to Centre Partners.

About Bradford Health Services

Based in Birmingham, Alabama and founded in 1977, Bradford is one of the longest-running active substance use treatment providers in the country. Bradford is also one of the largest providers of substance use disorder treatment and recovery services in the Southeast. Operating 30 clinical facilities providing various levels of care across six states, Bradford offers a full continuum of treatment to its patients. Additional information is available at www.bradfordhealth.com.

About Centre Partners

Centre Partners, founded in 1986, is a leading private equity firm with a middle market focus that seeks to make acquisitions and equity investments alongside management teams who have or desire to have a meaningful economic stake in the future success of their businesses. Centre Partners has invested over $2 billion in more than 70 transactions, partnering with management teams across a broad spectrum of industries. Centre Partners provides those teams with access to its unique resources, which include an extended network of experienced and proven operating executives. The firm is currently investing through its sixth fund. Additional information is available at www.centrepartners.com.

About Coker Capital Advisors

Coker Capital Advisors is a healthcare-focused investment bank offering mergers and acquisitions, capital raising, and other strategic advisory services to privately and publicly owned middle market healthcare companies. The firm’s website is www.cokercapital.com.