MINNEAPOLIS--(BUSINESS WIRE)--Yukon Partners ("Yukon"), a provider of junior capital for middle market private equity transactions, is pleased to announce its support of Bradford Health Services’ (“Bradford”) acquisition of Red Oak Recovery and The Willows at Red Oak Recovery (collectively “Red Oak”), a provider of trauma-informed substance abuse and dual diagnosis treatment for young adults across the country.
The combination of Bradford and Red Oak creates one of the largest providers of substance abuse treatment and recovery services in the Southeastern United States. Bradford and Red Oak share the same core values and treatment philosophies, and this unique partnership strengthens the position of both programs in the young adult recovery field, expanding access to care and providing unprecedented treatment opportunities to patients across the acuity spectrum.
Bradford is a current portfolio company of Centre Partners, a New York based private investment firm. Acquisition capital was provided by Yukon, NXT Capital, and the existing equity investors. Dorsey & Whitney LLP served as legal counsel to Yukon.
“Bradford and Red Oak are both patient centered, committed to providing excellent care, and passionate about recovery,” commented Clay Simmons, CEO of Bradford Health Services. “We welcome the Red Oak team to Bradford and look forward to the positive impact we will have together in the future.”
“Joining forces with Bradford extends the footprint of our young adult services and solidifies our leadership in the young adult recovery field,” stated Jack Kline, Founder & CEO of Red Oak, who will continue to lead the Red Oak organization as it continues to expand. “I am thrilled to partner with such a highly regarded group.”
“We are excited about Bradford’s acquisition of Red Oak and the growth opportunities for the combined business,” stated Jeff Bartoli, Managing Director of Centre Partners. “The acquisition expands Bradford’s geographic footprint within the Southeast, enhances its breadth of service offerings, and adds a group of highly regarded clinical and management personnel to the Bradford organization. We are thrilled to have our friends at Yukon join us as we look to continue executing on our investment thesis.”
Michael Hall, Managing Partner of Yukon added, “We are excited to support Centre Partners and management as they continue to execute their value-added strategy. This investment is separately noteworthy on two levels as it represents the final platform investment of Yukon Capital Partners II, our $406 million 2014 vintage fund, and marks a 30-year relationship with our friends at Centre Partners.”
About Bradford Health and Services
Bradford Health Services,
based in Birmingham, Alabama, is one of the largest and longest running
providers of substance abuse treatment and recovery services in the
Southeast. Through 28 individual clinical facilities, Bradford offers
early intervention services, crisis response, intensive outpatient care,
partial hospitalization and residential care, inpatient detox, and
transitional living and life skills programming. Additional information
is available at www.bradfordhealth.com.
About Red Oak Recovery
Red Oak Recovery is a leading
provider of trauma informed substance abuse and dual diagnosis treatment
for young adults across the country. With two campuses located in the
pristine Blue Ridge Mountains of North Carolina, Red Oak’s management
and clinical staff have deep experience integrating experiential
education, substance abuse, and mental health treatment programs that
generate optimal outcomes and long-term recovery. Additional information
is available at www.redoakrecovery.com.
About Yukon Partners
Yukon Partners is an independent and
unaffiliated junior capital provider, primarily serving middle market
private equity sponsor led business transactions in the U.S. and Canada.
The transactions in which Yukon invests include buyouts, growth and
platform strategies, recapitalizations, mergers/acquisitions, and
public-to-private buyouts. Yukon typically invests $10 to $50 million
per transaction and currently manages approximately $1.2 billion across
three funds. Yukon Partners is based in Minneapolis, Minnesota. For more
information, please visit www.yukonpartners.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 Dorsey & Whitney
Clients have relied on Dorsey
since 1912 as a valued business partner. Dorsey serves clients from
offices across the United States and in Canada, Europe and the
Asia-Pacific region. The firm is a leader in finance work of all kinds,
and has a demonstrated track record of financing corporate expansion
through a variety of junior capital structures, including mezzanine or
subordinated notes, second lien loans, unitranche debt, equity
co-investments, and preferred equity investments. Dorsey also has deep
experience in all facets of M&A and related finance, representing senior
lenders, PE funds, mezzanine investors, venture capital investors, and
clients in fund formation, management buyouts, spin-offs, going private
transactions, dispositions, and other financings. For more information,
visit www.dorsey.com.