Audax Private Equity's Successful Exit from Proud Moments
Audax Private Equity's Successful Exit from Proud Moments
In a significant achievement, Audax Private Equity, renowned for partnering with middle market companies, has sold Proud Moments ABA, a vital provider of applied behavioral analysis therapy catering to children on the autism spectrum. This strategic move reflects Audax's commitment to enhancing healthcare access and expanding service offerings.
Growth and Development Under Audax's Leadership
During Audax's period of investment, Proud Moments expanded its reach dramatically. What began as a modest operation with just seven locations primarily in one metropolitan area has blossomed into a thriving network of over 70 clinics spread across 12 states. This impressive expansion underscores both the demand for quality autism services and Proud Moments' commitment to meeting that demand.
Impact on Families
Proud Moments has established a reputation for excellence by providing a balance of both home- and clinic-based services. Currently, they serve approximately 3,000 children weekly, demonstrating a more than fourfold increase in patients since Audax's initial investment in 2019. This growth signifies the vital role Proud Moments plays in improving the lives of children with developmental disorders.
Key Leadership Insight
Keith Palumbo, Partner, and Co-President of Audax Private Equity, remarked on their initial mission: to drive access to quality care while enhancing the foundation of Proud Moments. This involved building corporate infrastructure, enhancing the management team, and focusing on growth initiatives, including multiple strategic acquisitions that propelled the company forward.
Future Prospects with Nautic Partners
With the acquisition now complete, Proud Moments looks ahead with optimism. Matt Henn, the Chief Executive Officer, expressed enthusiasm about collaborating with Nautic Partners, believing that their involvement will further enhance the work achieved under Audax. His statement highlights the shared goal of expanding and solidifying Proud Moments’ commitment to delivering excellent care.
The Role of Strategic Partnerships
The exit from Proud Moments is seen as a pivotal moment not just for Audax but for the healthcare sector at large. Adam Abramson, a Partner at Audax, noted how this transaction exemplifies their Buy & Build strategy, which focuses on value creation through strategic growth initiatives. This approach has not only benefited the company but also improved patient care significantly.
Collaboration and Innovation
Collaboration has been key during Audax's ownership of Proud Moments. The healthcare landscape is ever-changing, and adapting to these changes requires a dedicated focus on quality care and innovative practices. Proud Moments has embraced this philosophy, leading to enhanced service offerings that cater to the evolving needs of its patients.
About Audax Private Equity
Audax Private Equity, headquartered in Boston, boasts a robust portfolio, managing around $19 billion in assets. With a team of over 280 professionals, their investment focus lies in core middle and lower middle markets, highlighting their expertise in identifying opportunities and driving meaningful growth across diverse sectors.
Frequently Asked Questions
What services does Proud Moments provide?
Proud Moments specializes in applied behavioral analysis therapy for children diagnosed with autism, focusing on skill development and behavioral improvement.
How many clinics does Proud Moments currently operate?
Proud Moments has expanded to over 70 clinics across 12 states, supporting the needs of thousands of families.
Who acquired Proud Moments from Audax Private Equity?
Proud Moments was acquired by Nautic Partners, a private equity firm known for investing in companies that drive growth in healthcare.
What was the growth of Proud Moments under Audax's management?
Under Audax's management, Proud Moments experienced significant growth, increasing its patient base more than fourfold since 2019.
What investment strategy does Audax Private Equity employ?
Audax employs a Buy & Build strategy, focusing on value creation through organic and inorganic growth initiatives within its portfolio companies.
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