"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."
Westport, CT (PRWEB) May 09, 2013
Westbury Group, a boutique investment bank headquartered in Westport, CT, acted as the exclusive financial advisor to Family Behavioral Resources, Inc. (FBR) in its acquisition by Community Intervention Services, Inc. (CIS). CIS is a portfolio company of H.I.G. Growth Partners (HIG). Westbury Group, which has been an advisor to FBR since 2011 worked closely with the company’s management throughout the sale process. This included providing strategic advice, managing the preparation of information materials, identifying potential buyers, marketing the transaction, soliciting and evaluating offers and assisting FBR and its legal advisors (K&L Gates) in negotiating the purchase agreement and related documents.
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 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. The acquisition of FBR provides CIS with a strong regional presence in the Mid-Atlantic and a beachhead into the Midwest.
“I couldn't be more excited about the partnership with both CIS and HIG," 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."
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 HIG 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., which 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. More information about HIG Growth Partners and CIS is available online at higgrowth.com.
ABOUT WESTBURY GROUP LLC
Westbury Group is an investment banking firm based in Westport, Connecticut, dedicated to providing financial and strategic advisory services to premier middle-market companies. Such services include providing strategic advice regarding mergers and acquisitions, arranging financings through the private placement of debt and equity securities and other advisory services, including preparing fairness opinions and advising management teams and Boards about special situations. The firm provides senior-level attention, in-depth industry expertise and fully integrated resources. By remaining focused and independent, Westbury Group looks to serve its clients’ needs first. Westbury Group is a FINRA-registered Broker-Dealer.