Patient Square Capital’s Acquisition of Summit BHC

Willkie Farr & Gallagher and Bass Berry & Sims advised FFL and Lee Equity on the deal. Patient Square Capital was advised by Kirkland & Ellis, Latham & Watkins and McDermott Will & Emery.

Summit BHC (“Summit”), a leading provider of behavioral health and addiction treatment services, announced the signing of a definitive agreement under which Patient Square Capital (“Patient Square”) will acquire Summit from FFL Partners (“FFL”) and Lee Equity Partners (“Lee Equity”). Financial terms of the private transaction were not disclosed. 

FFL and Lee Equity partnered to acquire Summit in October 2017. Since the acquisition, Summit has completed seven acquisitions across substance use disorder and entered acute psychiatric care. 

Headquartered in Franklin, Tennessee and founded in 2013, Summit was established to develop and operate a leading network of behavioral health hospitals and addiction treatment centers throughout the country. 

Founded in 1997, FFL Partners is a San Francisco-based private equity firm with over $5.0 billion under management. 

Lee Equity Partners is a New York–based private equity firm that partners with successful management teams to build companies with strong growth potential.

Patient Square Capital is a dedicated health care investment firm that partners with best-in-class management teams whose products, services and technologies improve health.

The Kirkland team was led by corporate partners Michael Weisser and Megan Spelman, debt finance partners Jason Kanner and Daniel Amato, and tax partner Mark Schwed. 

Involved fees earner: Daniel Amato – Kirkland & Ellis; Jason Kanner – Kirkland & Ellis; Mark Schwed – Kirkland & Ellis; Megan Ward Spelman – Kirkland & Ellis; Michael Weisser – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Patient Square Capital;

Martina Bellini

Author: Martina Bellini