Civitas Solutions Inc (CIVI.N), a U.S. provider of home and community health services to people with disabilities, is exploring strategic alternatives, including a potential sale, people familiar with the matter said on Friday.
The move is aimed at capitalizing on strong buyout interest from private equity firms in the sector, the sources said. BrightSpring Health Services, another home care services provider owned by private equity firm Onex Corp (ONEX.TO), received preliminary offers this week from several buyout firms in its own sale process, according to the sources.
Civitas is working with an investment bank to explore a sale, the sources said, cautioning that the deliberations are at an early stage and that no deal is certain. Private equity firm Vestar Capital Partners owns just over half of Civitas and would seek to cash out on its stake, the sources added.
The sources asked not to be identified because the matter is confidential. Vestar declined to comment, while Civitas, Onex and BrightSpring did not immediately respond to requests for comment.
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