HIG Completes Acquisition of Family Behavioral Resources
FBR marks CISs third acquisition after Access Family Services in January and South Bay Mental Health Center in April 2012
HIG Capital LLC wrapped up the acquisition of Family Behavioral Resources (FBR), a national network of mental health and substance abuse treatment programs.
HIG acquired the Greensburg, Pa.-based target through portfolio company Community Intervention Services Inc. (CIS) Terms of the deal were not disclosed, but HIG generally spends between $5 million and $30 million when making investments.
FBR marks CIS’s third acquisition and will allow the company with a strong regional presence in the Mid-Atlantic and a beachhead into the Midwest. The transaction was announced about a month after CIS' purchasing of Access Family Services and less than a year after it completed thep acquisition of South Bay Mental Health Center Inc.
The company's acquiring of Access Family and FBR were each backed by an investment from MCG Capital Corp. (Nasdaq: MCGC) totaling $10.1 million
CIS is a portfolio company established by HIG's affiliate, HIG Growth Partners.
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