Civitas Solutions, which provides non-institutional care services for individuals with disabilities, illnesses and injuries, filed on Tuesday with the SEC to raise up to $250 million in an initial public offering. The company was bought by management and private equity firm Vestar Capital Partners in March 2006 from Madison Dearborn Partners for an estimated $800 million. Civitas operates The Mentor Network, the leading national provider of health and human services.
The Boston, MA-based company, which was founded in 1980 and booked $1.2 billion in sales for the 12 months ended March 31, 2014, has not selected an exchange or a ticker symbol. Barclays, Jefferies, BofA Merrill Lynch and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
