McLean advised Abyon on its acquisition by CoreCivic

BRENTWOOD, Tenn., June 10, 2025 — CoreCivic, Inc. (NYSE: CXW) announced that it has entered into a definitive agreement to acquire the Farmville Detention Center, a 736-bed facility constructed in 2010 and located in Farmville, Virginia. The transaction is expected to be consummated through the acquisition of 100% of the membership interests in the entities that own the facility.

The Farmville Detention Center provides transportation, care, and civil detention services to adult male noncitizens through an Intergovernmental Service Agreement between Prince Edward County, Virginia and U.S. Immigration & Customs Enforcement (ICE), which expires in March 2029. Abyon, the company behind the facility, has performed on the contract since 2008 and also provides ICE transportation and guard services in Virginia.

The total purchase price of $67.0 million is expected to be funded with cash on hand and borrowing capacity under CoreCivic's revolving bank credit facility. The acquisition, which is subject to customary closing conditions, was expected to close effective July 1, 2025, and to add approximately $40.0 million in annual revenue.

"We are pleased to expand our immigration solutions with this critical location, which ICE has used for many years — a need we expect to continue for the foreseeable future," said Damon T. Hininger, CoreCivic's Chief Executive Officer. Patrick D. Swindle, CoreCivic's President and Chief Operating Officer, added, "We look forward to assuming the operation at this location, and welcoming more than 200 new employees to the CoreCivic team."

The McLean Group served as sell-side advisor to Abyon on the transaction.

About CoreCivic: CoreCivic is a diversified, government-solutions company that provides a broad range of solutions to government partners, including corrections and detention management, residential and non-residential alternatives to incarceration, and government real estate solutions. It is the nation's largest owner of partnership correctional, detention and residential reentry facilities, and one of the largest operators of such facilities in the United States.