Civitas adds $75 million to term facility to fund Mentis acquisition

By Wendy Van Sickle

Columbus, Ohio, Oct. 26 – Civitas Solutions Inc. (National Mentor Holdings Inc.) amended its credit agreement dated Jan. 31, 2014 with Barclays Bank plc as administrative agent to add $75 million under the tranche B term loan facility on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds of the incremental term loan will be used to fund the acquisition of Mentis Neuro Rehabilitation, LLC, a provider of specialty-rehabilitation services with services in Texas and Ohio, with any leftover proceeds to be used for general corporate purposes.

After giving effect to the incremental term loan, National Mentor is required to repay the full tranche B term loan in quarterly installments of $1,832,839.56, with the balance payable at maturity.

Terms are identical to those of the original term loan funded on Jan. 31, 2014 and the previous incremental term loan funded on Feb. 27, 2015.

Civitas is a Boston-based provider of home and community-based health and human services.

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