Formation Capital LLC, together with Safanad Ltd., sold the parent company of RHA Health Services LLC to an affiliate of buyout group Blue Wolf Capital Partners LLC.
RHA is a comprehensive services provider to individuals with intellectual and developmental disabilities, behavioral health needs and substance-use challenges. The company has operations in Georgia, Florida, North Carolina and Tennessee.
Formation is an Atlanta-based private equity firm targeting senior housing and care, post-acute real estate and care and healthcare service providers. Safanad is a private equity and real estate investment firm with investments in healthcare, education, student housing and data centers.
Moelis & Co. LLC was the lead financial adviser to the sellers, while Cain Brothers served as their financial adviser. Skadden Arps Slate Meagher & Flom was legal counsel to RHA, while Arnall Golden Gregory provided regulatory advice to RHA.