What did Centerbridge Partners, LP pay for Civitas Solutions, Inc.?

Centerbridge Partners, LP acquired Civitas Solutions, Inc. for $1.40B in 2018 (8.1x EBITDA), equivalent to 0.90x revenue. Target revenue was approximately $1602.2M. Target EBITDA was approximately $173.8M.

What does Civitas Solutions, Inc. do?

Civitas Solutions, Inc. is a mental health business.

What multiple did Centerbridge Partners, LP pay for Civitas Solutions, Inc.?

8.1x EBITDA and 0.90x revenue, based on disclosed deal value of $1.40B and disclosed financials.

M&A TRANSACTION · 2018

Civitas Solutions, Inc. acquired by Centerbridge Partners, LP

$1.40B· 8.1x EBITDA· 0.90x revenue

Target

Civitas Solutions, Inc.

Acquirer

Centerbridge Partners, LP

Private Equity buyer

Disclosed financials at time of acquisition

Revenue

$1602.2M

EBITDA

$173.8M

Deal Value

$1.40B

EV/EBITDA

8.1x

Context

This $1.40B acquisition of Civitas Solutions, Inc. by Centerbridge Partners, LP sits in the mental health sub-vertical. The 8.1x EBITDA multiple paid in 2018 can be compared against the population median for mental health transactions of similar size on our Mental Health valuation hub. Centerbridge Partners, LP is acquiring as a private equity buyer; see how PE acquirers typically price mental health businesses on our Mental Health PE buyer-pool page.

Source

Data sourced from SEC Fairness Opinion — primary source. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology

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Citation: ExitValue.ai. (2018). Civitas Solutions, Inc. acquired by Centerbridge Partners, LP. https://exitvalue.ai/deals/civitas-solutions-inc-acquired-by-centerbridge-partners-lp-fairness-opi