Nautic Partners Acquires Proud Moments ABA from Audax Private Equity
Providence, Rhode Island-based private equity firm Nautic Partners has recently made a significant acquisition in the autism therapy space by acquiring Proud Moments ABA from Audax Private Equity. The Boston-based autism therapy provider officially changed hands on February 3, although the terms of the deal have not been disclosed.
Proud Moments ABA has experienced substantial growth under the ownership of Audax Private Equity. Initially focused in the New York tri-state area with seven locations, the company has expanded its footprint to cover 12 state markets, boasting 70 clinics and serving approximately 3,000 patients per week.
According to Keith Palumbo, partner and co-president of Audax Private Equity, the primary goal when they initially invested in Proud Moments ABA was to enhance access to care and invest in the organization’s infrastructure to drive positive outcomes for patients. This objective was achieved through various initiatives, including the development of corporate leadership and infrastructure, organic growth, and the completion of seven strategic acquisitions.
Calex Partners played a key role in advising both Audax Private Equity and Proud Moments on the sale transaction. Nautic Partners, the new owner of Proud Moments ABA, has a track record of investing in behavioral health companies. Notable investments include Odyssey Behavioral Healthcare and Nystrom & Associates Ltd.
Matt Henn, CEO of Proud Moments ABA, expressed enthusiasm about the transition to Nautic Partners, highlighting Audax Private Equity’s collaborative approach during their ownership tenure. He emphasized the commitment to quality care and expressed optimism about the company’s future growth trajectory under Nautic Partners’ ownership.
The autism service sector has seen increased deal activity in 2024, with 34 transactions recorded compared to less than 25 in the previous year. This trend reflects a growing interest among investors in the autism therapy space. Notable deals this year include the investment by Leavitt Equity Partners, Fulcrum Equity Partners, and Western Governors University in Pediatrics Plus, as well as Ascend Capital Partners’ acquisition of a majority stake in Unison Therapy Services.
Overall, Nautic Partners’ acquisition of Proud Moments ABA represents a strategic move in the behavioral health market, underscoring the continued interest and investment opportunities in the autism therapy sector. With a strong foundation established by Audax Private Equity, Proud Moments ABA is poised for further growth and success under its new ownership.
