Harris Williams Advises Correct Care Solutions, LLC on its Sale to an Affiliate of H.I.G. Capital, LLC

October 4, 2018

Harris Williams, a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that it advised Correct Care Solutions, LLC (CCS), on its sale to an affiliate of H.I.G. Capital (H.I.G.). The transaction was led by Geoff Smith, James Clark, Whit Knier, Mervyn Han and Andrew Hoft of Harris Williams’ Healthcare & Life Sciences (HCLS) Group.

Concurrent with the acquisition, H.I.G. combined CCS with existing portfolio company Correctional Medical Group Companies (CMGC), in partnership with management, to create CCS-CMGC (Newco or the Company), a leading multinational provider of outsourced public health and behavioral health services with approximately $1.5 billion in annual revenues.

“We are proud to have represented CCS in this transaction,” said Geoff Smith, a managing director at Harris Williams. “The partnership with H.I.G. and the combination with CMGC strengthen the company’s position as a market-leading public health outsourcing platform, and we are extremely excited to see the business continue to grow in its new partnership.”

“CCS has a clear commitment to providing exceptional healthcare to the patients it serves,” said James Clark, a managing director at Harris Williams. “The team has a strong vision and will continue to drive meaningful change across the critical public health landscape.”

“Our country is in the midst of a serious behavioral health crisis and CCS plays a pivotal role in addressing this issue,” added Whit Knier, a director at Harris Williams. “It has been a pleasure working with CCS’ passionate and talented management team and we wish them continued success as they execute on their mission.”

Founded in 2003, and based in Nashville, CCS is an international leader in public healthcare with nearly 11,000 professionals working in 38 states across the U.S. and Australia. CCS provides medical and behavioral health services for nearly 250,000 patients located in state hospitals, forensic treatment and civil commitment centers, as well as local, state and federal correctional facilities.

Founded in 1983 (as California Forensic Medical Group), and based in San Diego, CMGC is a provider of comprehensive medical and behavioral healthcare services to local detention facilities across the United States. CMGC lives by a simple code: Always Do the Right Thing, and CMGC’s enduring success has been built on a passionate commitment to its patients and its county partners.

H.I.G. is a leading global private equity and alternative assets investment firm with over $27 billion of equity capital under management (based on total capital commitments to funds managed by H.I.G. and its affiliates). Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, Mexico City, New York and San Francisco, as well as international affiliate offices in Bogota, Hamburg, London, Luxembourg, Madrid, Milan, Paris, Rio de Janeiro and Sao Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion.

Harris Williams (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams’ HCLS Group has experience across a broad range of sectors, including medical devices, products and distribution; multi-site and retail healthcare providers; alternate site care; healthcare IT; managed care and cost containment services; outsourced clinical services; and outsourced pharma services.  For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.