The Vestar logo on a gold colored back ground.

Vestar Beefs up Team with Two New Additions

NEW YORK, NEW YORK – September 29, 2014 – Vestar Capital Partners, a leading U.S. private equity firm, today announced the addition of Nikhil Bhat and Alexander Kerr to the Firm as Senior Associates.

Nikhil Bhat graduated earlier this year from the Stanford Graduate School of Business, where he earned his M.B.A. with distinction as an Arjay Miller Scholar. He joins Vestar as a Senior Associate in the Firm’s Diversified Industries Group. Prior to business school, Mr. Bhat worked on the Industrials team at Advent International, where he focused on private equity investments in the building products, capital equipment and distribution sectors. He began his career as a consultant at Bain & Company. Mr. Bhat received a B.S. in Economics, magna cum laude, from the Wharton School of the University of Pennsylvania in 2007.

Alex Kerr also joins Vestar as a Senior Associate in the Diversified Industries Group. Prior to joining Vestar, he was an Associate at Madison Dearborn Partners, where he evaluated LBO and structured equity investment opportunities across the healthcare, consumer and industrial sectors. He has held analyst positions in the Global Markets and Investment Banking group at Merrill Lynch and in the Citigroup Capital Markets and Banking unit. He holds a B.S., cum laude, from Georgetown University’s School of Foreign Service (2006) and an M.B.A. from the Wharton School of the University of Pennsylvania (2014).

Logo for 21St Century Oncology.

21st Century Oncology Received $325 Million Net Cash Proceeds from Preferred Equity Investment

New investor, Canada Pension Plan Investment Board, is Canada’s largest pension fund manager, with C$227 billion in assets under management

• Investment results in substantial deleveraging, stronger liquidity, and significant capital for continued business expansion
• 21st Century Oncology (21C) to use fresh capital to drive integrated cancer care strategy, organic growth and corporate development initiatives

FORT MYERS, FL & NEW YORK, NY, SEPTEMBER 26, 2014 – 21st Century Oncology Holdings, Inc. (“21st Century Oncology” or “the Company”) and Vestar Capital Partners (“Vestar”) today announced that Canada Pension Plan Investment Board (“CPPIB”), Canada’s largest pension fund manager with C$227 billion in assets under management, has made a $325 million equity investment in the Company. The investment provides the Company with substantial incremental liquidity, enables significant debt reduction, and secures the long-term capital necessary to support the Company’s future growth strategy.

Dr. Daniel Dosoretz, Founder and Chief Executive Officer, said, “This new capital provided by CPPIB is a significant equity investment for 21C. CPPIB’s investment is a key partnership in our worldwide leadership of Integrated Cancer Care (ICC) and our ability to achieve sustained organic and acquisitive growth. We are extremely pleased that CPPIB has joined Vestar Capital as a major equity partner, sharing our conviction that we will continue to leverage our unique global platform and execute our long-term business plan.”

Dr. Dosoretz continued, “Importantly, the investment allows us to continue to pursue our ICC and corporate development strategies that have driven the expansion of our business over the past several years. It will significantly enhance our capital structure and give us the resources necessary to continue providing integrated cancer care, improve the quality of care, and deliver that care at compelling value to our expanding patient population throughout North America and Latin America. Our business continues to perform well, with strong organic trends and growth contributions from the acquisitions of OnCure and SFRO. We expect to continue to build on our second quarter momentum as we move through the second half of 2014, delivering academic quality care to patients, improving census and executing our growth strategy.”

Scott Lawrence, Managing Director, Head of Relationship Investments, CPPIB, said, “We are pleased to become a cornerstone investor in 21C, and we look forward to a strong partnership with senior management and Vestar Capital. This investment is aligned with our goals of providing strategic, longterm capital to industry leading businesses where we can participate in their future success and help create greater value through an ongoing partnership.”

Rob Rosner, Chairman of the Board of 21C and Co-President of Vestar Capital, noted, “The CPPIB investment supports Vestar’s long-term thesis that 21C is the preeminent platform for integrated cancer care and provides academic quality care in comfortable, convenient and integrated settings. We look forward to our partnership with CPPIB in fulfilling the Company’s mission and reaching its full business potential.”

The net proceeds of the investment will be used to repay all outstanding borrowings under the Company’s revolving credit facility of approximately $79.5 million, repay all obligations under the South Florida Radiation Oncology (SFRO) credit facilities of approximately $84.5 million, repay certain other debt and capital leases, fund strategic initiatives, and provide working capital for general corporate purposes. As a result of the CPPIB investment, the recapitalization support agreement that the Company entered into in July has terminated in accordance with its terms. The Company’s senior subordinated notes will remain outstanding and unmodified. Following the repayments of debt identified for repayment, the Company expects to have approximately $80 million of the net cash proceeds on hand.

Pursuant to the terms of the investment, CPPIB will receive shares of the Series A Convertible Preferred Stock and will have the right to nominate two directors for appointment to 21C’s Board of Directors. The holders of a majority of the outstanding preferred stock will have customary consent rights and will be entitled to vote together with the holders of the Company’s common stock on an as converted basis under certain circumstances.

A detailed Form 8-K filing that includes the specifics of the new preferred stock and related documentation is available on the U.S. Securities and Exchange Commission (SEC) website,

Logo for Civitas Solutions.

Civitas Solutions, Inc. (a/k/a National Mentor Holdings) Announces Pricing of Initial Public Offering

Released by Civitas: 09/16/2014
BOSTON--(BUSINESS WIRE)--Civitas Solutions, Inc. (“Civitas” or the “Company”) announced today that it has priced the underwritten initial public offering of 11,700,000 shares of its common stock at a price to the public of $17.00 per share. In connection with the offering, Civitas has granted the underwriters a 30-day option to purchase up to an additional 1,755,000 shares. The shares are expected to begin trading on the New York Stock Exchange beginning on September 17, 2014 and will trade under the symbol “CIVI.” The offering is expected to close on September 22, 2014.

Civitas expects to receive proceeds from this offering, after deducting estimated underwriting discounts and commissions and offering expenses payable by the Company, of approximately $182.2 million. Civitas intends to use the proceeds from this offering, together with cash on hand, to (i) redeem $162.0 million in aggregate principal amount of the senior notes issued by National Mentor Holdings, Inc. at a redemption price of 106.25% plus accrued and unpaid interest thereon to the date of redemption and (ii) pay a transaction advisory fee to its equity sponsor under a management agreement that will terminate upon completion of the offering.

Barclays Capital Inc., BofA Merrill Lynch and UBS Securities LLC are serving as representatives of the underwriters and joint book-running managers for the offering. Raymond James & Associates, Inc., SunTrust Robinson Humphrey, Inc., BMO Capital Markets Corp. and Avondale Partners, LLC are acting as co-managers.