Centerbridge acquired Civitas Solutions for $1.4bn.

Centerbridge Partners acquired Civitas Solutions, the leading national 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, for $1.4bn. Under the terms of the agreement, Centerbridge will acquire all outstanding shares of Civitas common stock for $17.75 in cash per share. The offer price represents a 27% premium to the 30-day volume-weighted average price as of December 18, 2018. “We are excited about this transaction, which follows a thorough review of alternatives by our Board of Directors,” said Bruce Nardella, President and Chief Executive Officer of Civitas. “This transaction delivers significant value for our shareholders and strengthens our ability to execute our long-term growth strategy and fulfill our mission through the expansion of high-quality, cost-effective services.