Headwaters MB advised a leading provider of rehabilitation services to people with developmental disabilities (the Company), on a senior credit facility from Opus Bank. This transaction will provide the Company with both liquidity and the ability to launch new growth initiatives through potential acquisitions.
The Company has been supporting people with developmental disabilities since 1992. Presently, the Company provides support to more than 500 people with development disabilities in several western States.
The Company is a high-quality and successful service provider in a market segment that is fragmented and consolidating. Clients, their families, and local communities rely on the Company’s services. This financing and concurrent buy-side advisory assignment with the Headwater’s Healthcare team allowed a liquidity event for the primary shareholder, while putting in place a capital structure designed to accommodate acquisition growth which will allow the Company to grow to serve more clients.
The Company is actively seeking to make acquisitions of quality service providers in the I/DD space. David Baker and Rod Rivera, both Managing Directors in the Healthcare group at Headwaters MB, are advising the Company.
Terms of the transaction were not disclosed.
About Headwaters MB
Headwaters MB is an independent, middle market investment banking firm providing strategic merger and acquisition advice, capital raising and special situations advisory. Named “Investment Bank of the Year” by major industry organizations in 2014 and 2015, Headwaters MB is headquartered in Denver, CO, with six regional offices across the United States and partnerships with 18 firms covering 30 countries. For more information, visit www.headwatersmb.com.
About The Company
The Company is a leading provider of home and community based residential and behavioral services (“HCBS”) to adults and children with intellectual and developmental disabilities (“I/DD”) in the western United States. The Company provides a comprehensive suite of residential, supported living, behavioral services and employment programs, with a particular ability and reputation for handling individuals with more complex cases. The Company’s primary goal is to help individuals achieve the highest level of autonomy possible while receiving the support they need to address both their medical and behavioral conditions.
About Opus Bank
Opus Bank (NASDAQ: OPB) is among the fastest growing banks in the Western region of the U.S., with $7.5 billion in assets, at June 30, 2016, and 58 banking offices, including 33 in California, 22 in the Seattle/Puget Sound region of Washington, two in the Phoenix metropolitan area of Arizona, and one in Portland, Oregon. For more information, visit www.opusbank.com.