Shore Capital Closes Recap of Behavioral Innovations
June 27, 2017
June 5, 2017 ‐ Shore Capital Partners (“Shore Capital” or “Shore”) is pleased to announce that it has completed a recapitalization of Behavioral Innovations (“BI” or the “Company”) and formed SCP Behavioral Innovations HoldCo, LLC. Behavioral Innovations provides center-based and in-home applied behavior analysis therapy (“ABA”), speech therapy (“SLP”) and occupational therapy (“OT”) services to children ages birth through 18 with autism spectrum disorder and other related developmental disabilities. In addition, BI offers adult services in community-based treatment settings. Behavioral Innovations has 13 centers in central and northern Texas and in-home services in the Oklahoma City, OK area.
Shore has partnered with Dan Nicholson, Executive Vice President, and co-founders Carla Edwards and Lori Russo, Board Certified Behavior Analysts (“BCBAs”). Ms. Edwards and Ms. Russo have been providing autism therapy services in Texas since 2000 and have established one of the largest providers in the state, representing a unique combination of best-in-class clinical quality and relative scale. Mr. Nicholson joined the Company in 2013 and has provided key leadership support and business development expertise amidst a period of robust growth.
“With a broad spectrum of high quality services helping children and adults with autism, Behavioral Innovations is the ideal partner for our growth investment,” said John Hennegan, Partner at Shore Capital and Chairman of SCP Behavioral Innovations HoldCo, LLC. “The formation of SCP Behavioral Innovations represents a unique opportunity to continue to recruit high caliber clinicians and expand access to treatment through new center openings and growth within the existing centers. We look forward to building a leading organization in the southwest, while continuing to provide the highest quality clinical care to our patients.”
“Shore Capital’s track record proves they’re the ideal partner as we accelerate our growth into new markets and expand our reach to serve more communities in Texas and Oklahoma,” said Dan Nicholson.
Behavioral Innovations plans to expand its presence through new center openings and select add-on acquisitions, while maintaining a therapist-driven culture with a clear focus on clinical care. As the prevalence of autism spectrum disorder increases and state insurance mandates improve access to therapy, it will be critical for high-quality providers like BI to expand and meet the growing demand.
“Shore Capital’s deep experience in multi-site healthcare services enables them to understand the unique needs of our business and provide the operating expertise, access to capital, and strategic guidance to help expand our footprint,” said Carla Edwards, who will continue in her role as Executive Director of Operations.
“Shore’s steadfast commitment to clinical quality confirmed we have identified the right partner for the next stage of growth,” added Lori Russo, who will continue to serve as Executive Director of Clinical Services.
This investment represents the first platform investment out of Shore Capital Partners Fund II, L.P., a $190 million investment vehicle raised in April 2017.