Proud Moments: Audax Private Equity Completes Exit in ABA Therapy Sector
Deal News | Feb 11, 2025 | Ropes & Gray
Ropes & Gray has advised Audax Private Equity in successfully completing the sale of Proud Moments ABA, a provider of applied behavioral analysis therapy for children with autism, to Nautic Partners. This transaction represents Audax's exit from Proud Moments, a maneuver strategically announced in February. With headquarters in Boston and additional offices in San Francisco, New York, and London, Audax manages around $19 billion in assets and serves as a capital partner to middle market companies. Legal strategy was supported by a team from Ropes & Gray, comprising partners with expertise in private equity, tax, executive compensation, litigation, finance, and healthcare. The transition of ownership to Providence-based Nautic Partners signals a significant transaction within the private equity sector, highlighting its focus on healthcare and specialized therapy services.
Sectors
- Private Equity
- Healthcare Services
Geography
- United States – Audax Private Equity and Ropes & Gray are based in the United States, and the transaction involves U.S. private equity firms.
Industry
- Private Equity – Relevant as the article discusses a transaction involving Audax Private Equity exiting a portfolio company.
- Healthcare Services – Proud Moments ABA operates within healthcare, providing specialized behavior therapy services for children with autism.
Financials
- $19 billion – Assets under management by Audax Private Equity.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Audax Private Equity | Selling Company | Company | A private equity firm managing around $19 billion in assets, known for partnering with middle market companies. |
| Proud Moments ABA | Target Company | Company | Provider of applied behavioral analysis therapy services for children with autism. |
| Nautic Partners | Bidding Company | Company | A Providence-based private equity firm that acquired Proud Moments ABA from Audax Private Equity. |
| Ropes & Gray | Legal Advisor | Company | A law firm that provided legal advisory services to Audax Private Equity in the transaction. |