Lee Equity Partners LLC, a middle-market private equity firm, has purchased Bradford Health Services, a substance use disorder treatment provider.
Bradford Health, based in Birmingham, Ala., has a market presence in Alabama, Tennessee, Mississippi, North Carolina and Arkansas. Lee Equity acquired Bradford Health from Centre Partners and certain other investors, with Centre Partners maintaining an ongoing equity stake. Mike Rickman, CEO of Bradford Health, will continue to lead the company.
“We believe that the company is well positioned for the future and will accelerate its growth trajectory while continuing to deliver high-quality patient care,” says Mark Gormley, partner at Lee Equity.
Fifth Third and Comvest provided financing for the transaction. McDermott Will & Emery acted as legal counsel to Lee Equity. Harris Williams and Coker Capital served as advisors and Dechert LLP and Burr & Forman LLP acted as legal counsel to Bradford Health.