AAC Holdings Inc. closed its acquisition of AdCare Inc. for a total consideration of $85 million.
The Brentwood, Tenn.-based company also closed a $65 million incremental term loan related to the deal. The loan was arranged by Credit Suisse Securities (USA) LLC, Deutsche Bank Securities, BMO Capital Markets Corp. and Whitney Bank.
AdCare is a provider of addiction treatment in New England. It generated revenue of $54 million and net income of $10 million for the 12 months ended Sep. 30, 2017.
The deal includes the purchase of a referral phone line and other toll-free numbers.
