Civitas gets financing commitment for buyout by Centerbridge

By Sara Rosenberg

New York, Dec. 18 – Civitas Solutions Inc. has received a commitment for financing from Goldman Sachs & Co. LLC, UBS Securities LLC, RBC Capital Markets LLC and KeyBanc Capital Markets to help fund its acquisition by Centerbridge Partners LP, according to a news release.

Under the agreement, Civitas is being bought for $17.75 in cash per share, resulting in an enterprise value of about $1.4 billion.

Closing is expected in the company’s second fiscal quarter, subject to shareholder approval, expiration or termination of waiting periods under Hart-Scott-Rodino Antitrust Improvements Act, and other customary conditions.

Civitas is a Boston-based provider of home- and community-based health and human services to must-serve individuals with intellectual, developmental, physical or behavioral disabilities and other special needs.

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