Avondale Partners is pleased to announce that it recently served as the exclusive financial advisor to Generations Behavioral Health, LLC (“Generations” or “the Company”) regarding their debt recapitalization.
Founded in 2016 by long time business partners Edward Stack, an experienced Nashville-based healthcare executive, and Dr. Zyama Goldman, a practicing geriatric psychiatrist, Generations provides inpatient and outpatient psychiatric services to the adult and geriatric population in northeast Ohio. The Company currently operates two hospitals with a total of 94 beds and an outpatient clinic.
The recapitalization achieved the shareholders’ objectives of monetizing a third party’s investment in the Company, including both the redemption of a minority equity stake and repayment of debt, and ensuring that the Company has the financial flexibility for future growth.
Financing for the transaction was provided by FirstBank as the senior lender and Capital Alignment Partners as the subordinated debt lender. FirstBank is a leading Tennessee community bank with more than $6 billion in total assets. It was founded in 1906 and completed a successful IPO in 2016. Capital Alignment Partners focuses on the lower-middle market and typically invests through subordinated debt securities. It is currently investing out if its third fund. Both firms are headquartered in Nashville.
For questions about the transaction or Avondale Partners’ healthcare investment banking services, please contact Pat Shepherd (615-467-3515; firstname.lastname@example.org), Jonathan Morphett (615-467-3533; email@example.com), or Neil Herndon (615-467-3529; firstname.lastname@example.org).