Waud Capital Partners (“WCP”) today announced the expansion of the
management team at its portfolio company, Acadia Healthcare Company
(“Acadia” or the “Company”), with the appointment of veteran behavioral
healthcare executive Joey Jacobs as Chief Executive Officer.
Acadia was formed by WCP in 2005 to acquire, develop and operate a
national network of behavioral healthcare facilities.
“We are excited that Joey Jacobs and his senior management team have
joined Acadia to lead the next chapter of its growth and are fortunate
to have the opportunity to partner with a team of this caliber,” said
Chuck Edwards, Principal at WCP. “We believe their decision to join
Acadia recognizes the quality of the platform developed by the existing
team and evidences the promise that lies ahead for the Company.”
Mr. Jacobs and the management team join Acadia from Psychiatric
Solutions, Inc. Joining Acadia with Mr. Jacobs are Brent Turner, who
will serve as Co-President alongside former Acadia CEO Trey Carter; Ron
Fincher, Chief Operating Officer; Jack Polson, Chief Financial Officer;
and Chris Howard, who will serve as General Counsel. Karen Prince,
former Acadia COO, will become the President of the Eastern Division.
“I am eager to continue building upon Acadia’s history of success
providing high quality behavioral healthcare services to patients and
their families, and I am fortunate to be surrounded by an exceptional
management team with proven success in the industry,” said Joey Jacobs,
CEO of Acadia.
Trey Carter, Co-President of Acadia, said, “I look forward to working
with Joey Jacobs and his team in managing Acadia’s next stage of growth.
I am certain that, together with our employees, we will continue to
build upon the Company’s strong foundation.”
“The expansion of Acadia’s management team exemplifies WCP’s investment
style of partnering with highly experienced senior executives to build
industry-leading companies. We are confident that Joey and his team will
build upon the standard of excellence Trey Carter established during his
tenure as CEO of Acadia,” said Reeve Waud, Managing Partner of WCP.
About Acadia Healthcare Company
Headquartered in Nashville, Acadia was established in December 2005 to
acquire, develop and operate a network of behavioral healthcare
facilities across the country. Acadia provides premier psychiatric and
chemical dependency services to its patients in a variety of settings,
including inpatient psychiatric hospitals, residential treatment
centers, outpatient clinics and therapeutic school-based programs.
For additional information on Acadia Healthcare Company, visit the
Company’s website at www.acadiahealthcare.com.
About Waud Capital Partners
Waud Capital Partners is a private equity investment firm founded in
1993 that partners with exceptional management teams to invest in middle
market growth equity investments, buyouts, industry consolidations and
recapitalizations. The firm seeks to invest $10 million to $100 million
in private companies in the following four areas: healthcare services,
business and consumer services, specialty distribution and value-added
industrial businesses. Typically, the companies in which WCP invests
have enterprise values between $30 million and $300 million. The firm
has completed more than 100 acquisitions since its founding and
currently has approximately $1 billion of capital under management.
For additional information on Waud Capital Partners, visit the firm’s
website at www.waudcapital.com.
Waud Capital Partners
Chuck Edwards, 312-676-8400
Kelly Holman, 212-209-3844