Atlanta, GA (June 7, 2016) – FOCUS Investment Banking LLC, a national middle market investment banking firm providing merger, acquisition, divestiture and corporate finance services announced today that ACI Support Specialists, Inc. has been acquired by Dungarvin, Inc. FOCUS represented ACI Support Specialists in the transaction.
ACI, located in North Carolina, is committed to providing quality person-centered services and support to individuals with special needs and/or mental illnesses. ACI provides support services to more than 450 individuals, as well as approximately 190 children in therapeutic foster care. ACI has approximately 500 employees and 235 independent contractors providing foster care and adult family living services.
Founded in St. Paul, Minnesota in 1976, Dungarvin is a national organization of privately owned companies dedicated to providing high quality, community-based support to people with varying support needs. Prior to the addition of ACI, Dungarvin employed approximately 3,400 people who provide support services to over 3,000 individuals with intellectual and developmental disabilities in more than 1,500 locations across 13 states. ACI will become Dungarvin’s fourth largest state program.
According to Tim Wadford, managing member of ACI, “Dungarvin and ACI share very similar values. We are truly excited to become a member of the Dungarvin family of companies and look forward to learning more about the qualities of Dungarvin that have kept them successful for 40 years. We are confident that this new relationship will enhance the quality of our services and strengthen our operations”.
Dave Toeniskoetter, president and CEO of Dungarvin added “We are delighted to welcome the ACI team as they join the Dungarvin organization. We have much to learn from them, and we look forward to the opportunity to support their continued growth.”
Michael McGregor, FOCUS managing director, said “The founders of ACI watched the industry change over the last five years and were determined to find a partner that could expand their quality footprint in North Carolina. Dungarvin is a great “cultural” fit, and they have the financial strength to help ACI smooth out the bumps in the road as consolidation of providers and MCO’s continues in the state.”
Jonathan Wilfong, FOCUS regional managing partner, stated, “ACI’s mission is to enhance the lives of the people it serves. We were pleased to assist the company in finding a partner that shared its commitment to person-centered services.”
About FOCUS Investment Banking LLC
FOCUS Investment Banking, LLC provides a range of middle market investment banking services with an emphasis on mergers, acquisitions, divestitures and corporate finance. FOCUS, a national firm serving clients from offices in major cities across the U.S., specializes in business units with transactions or revenues in the $5-300 million range, serving entrepreneurs, corporate owners and various types of investors across a broad range of industries both domestically and worldwide. FOCUS bankers are seasoned operating and financial executives with extensive transaction experience. Securities transactions conducted by FOCUS Securities LLC, an affiliated company, registered Broker Dealer member FINRA/SIPC. For more information on FOCUS and its Healthcare practice, visit www.focusbankers.com/Health.