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Report: Civitas reviewing strategic alternatives, including possible sale

Home and community-based health services provider Civitas Solutions Inc. is considering a potential sale as part of exploring strategic alternatives, Reuters reported, citing people familiar with the matter.

The Boston-based company has hired an investment bank for the possible transaction, with New York-based private equity firm Vestar Capital Partners LLC also looking to sell its over 50% stake in Civitas, the news outlet reported.

Reuters reported that Civitas' move to consider a sale seeks to capitalize on private equity firms' strong interest in the sector.

Home care services provider BrightSpring Health Services, which is owned by Canadian private equity firm Onex Corp., has also received offers from several buyout firms as part of a sale process it launched earlier this week, according to Reuters' sources.