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Subsequent Events | 6 Months Ended
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Jun. 30, 2013
Subsequent Events |
13. | SUBSEQUENT EVENTS
On July 31, 2013, CCA closed on the acquisition of Correctional Alternatives, Inc. (“CAI”) a privately held community corrections company for an all cash purchase price of approximately $36 million, excluding transaction related expenses. Founded in 1987, CAI provides cost-effective solutions for housing and rehabilitation through community corrections and reentry services. CAI operates two facilities concentrating on community corrections and specializing in work furloughs, residential reentry programs and home confinement for San Diego County and Bureau of Prisons (“BOP”) residents. During 2012, CAI generated approximately $10 million in total revenues and owns a 120-bed facility and controls a 483-bed facility through a long-term lease.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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