03 03 2016

Acadia Healthcare Company, Inc. $390 Million High-Yield Notes Offering

Davis Polk advised the representatives of the initial purchasers of a Rule 144A/Regulation S offering by Acadia Healthcare Company, Inc. of $390 million aggregate principal amount of its 6.500% senior notes due 2024.


Merrill Lynch, Pierce, Fenner & Smith Incorporated and Jefferies LLC acted as representative of Initial Purchasers. The notes are guaranteed by Acadia’s domestic subsidiaries that guarantee its senior secured credit facility. The proceeds of the offering were used to fund a portion of the purchase price for the acquisition of Priory Group, a leading independent provider of behavioral health care services in the United Kingdom. Based in Franklin, Tennessee, Acadia provides inpatient behavioral health care services in the United States and the United Kingdom for children, adolescents and adults through a combination of acute inpatient behavioral facilities and residential treatment centers. As of September 30, 2015, Acadia operated 233 behavioral health care facilities with over 9,600 licensed beds in 37 states, the United Kingdom and Puerto Rico. The Davis Polk capital markets team included partner Michael Kaplan (Picture), counsel Derek Dostal and associate Stephanie M. Rohlfs. The tax team included counsel Craig A. Phillips and associate Peter Benesch. Counsel David A. Zilberberg provided environmental advice. Involved fees earner: Michael Kaplan - Davis Polk & Wardwell; Derek Dostal - Davis Polk & Wardwell; Stephanie Rohlfs - Davis Polk & Wardwell; Craig Phillips - Davis Polk & Wardwell; Peter Benesch - Davis Polk & Wardwell; David Zilberberg - Davis Polk & Wardwell;

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