BB&T Capital Markets served as Exclusive Financial Advisor to Averhealth in the Company’s recapitalization by Five Arrows Capital Partners
On July 19, 2019, Avertest, LLC (“Averhealth" or the "Company") was recapitalized by Five Arrows Capital Partners (“Five Arrows” or “FACP”). BB&T Capital Markets served as the exclusive financial advisor to Averhealth.
About the Companies
For nearly 25 years, Averhealth has specialized in providing substance use monitoring services tailored to the unique needs of judicial programs that operate at the holistic intersection of justice‐involved and behavioral health. Today, Averhealth serves more than 1,800 courts and probation services across 26 states. Averhealth integrates all substance use monitoring activities, including random selection, client notification, sample collection, laboratory analysis, results reporting, and all steps in between. Averhealth services are centered on APPA, NADCP, and ASAM evidenced‐based practices proven to help clients develop coping and refusal skills to new substance use.
Five Arrows Capital Partners is the North American corporate private equity arm of Rothschild & Co’s Merchant Banking business, managing over $12 billion of assets with offices in London, Paris, Luxembourg, New York and Los Angeles. Like its European corporate private equity business, Five Arrows Capital Partners is focused on investing in middle‐market companies with highly defensible market positions; strong management teams; business models with high revenue and earnings visibility; and multiple operational levers that can be used to unlock latent value. FACP’s sector focus is limited to healthcare, business services, data and software, and technology enabled services.
BB&T Capital Markets has a highly experienced team dedicated to the healthcare industry. Our senior living group has an annual financing volume that typically exceeds $1 billion in bond issues, loans and direct placements. Our Mergers & Acquisition Advisory team has executed more than 35 transactions generating in excess of $3 billion of aggregate consideration for clients over the course of their careers.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.