Lee Equity Partners has announced it has acquired a majority ownership interest in Bradford Health Services from Centre Partners and other investors.
Bradford Health, based in Birmingham, Ala., is a substance use disorder treatment provider in the Southeast. Founded in 1977, the company operates a coordinated network of 40 facilities.
Lee Equity is a New York-based private equity firm that focuses on control buyouts and growth capital financings in the middle market. Founded in 2006, the firm prefers to make more substantial investments in several sectors, including healthcare.
Centre Partners, founded in 1986 and with offices in New York and Los Angeles, is middle-market private equity firm focusing on the healthcare and consumer sectors. The firm will maintain an ongoing equity stake in Bradford Health.
Terms of the transaction were not disclosed.