Private equity firm Shore Capital Partners has completed the recapitalisation of Florida Autism Center (FAC) and the formation of SCP Autism Services.
Florida Autism Center provides centre-based applied behaviour analysis (ABA) treatment services to children diagnosed with Autism Spectrum Disorder (ASD). In addition, the Company offers a private school program to students with ASD as an alternative to a public school setting. The Company provides therapy through five centre in central and northern Florida.
Shore has partnered with Chrystin Bullock (pictured), a Board Certified Behaviour Analyst (BCBA) and the founder of Florida Autism Center. Chrystin has been providing autism therapy services since 2005 and has established one of the largest providers in Florida, representing a unique combination of best-in-class clinical quality and scale. Shore is excited about the opportunity to continue to recruit high caliber therapists and expand access to treatment through new centre openings and expansion within the existing centres.
“We could not be more excited to partner with Chrystin and her team of clinicians and operators. We look forward to building a leading organisation in Florida, while continuing to provide the highest quality clinical care to the autism community,” says John Hennegan, Partner at Shore Capital and Chairman of SCP Autism Services, LLC.
Bullock says: “In seeking a partner for growth, it was important to select an organisation that shared my commitment to clinical excellence. In Shore Capital we’ve found a partner with a track record of success and a deep understanding of the challenges in the autism therapy market. The entire FAC team looks forward to realising the next step in our vision of building the leading autism services company in the Southeast.”
Shore plans to invest in infrastructure to streamline operations and centralise the finance, accounting, human resources, and IT functions so that therapists are able to spend more time providing care to children on the autism spectrum. Commensurate with Shore Capital’s investment, FAC has hired Ralph Nelson as Chief Financial Officer and Marta Sullivan as Vice President of Human Resources and will be adding a Chief Executive Officer in the coming months.
Florida Autism Center plans to expand its presence through new facility openings, while maintaining a therapist-driven culture with a clear focus on clinical care. As the prevalence of ASD increases and state insurance mandates improve access to therapy, it will be critical for high-quality providers like FAC to expand and meet the growing demand.
This investment represents the fourth platform investment out of Shore Capital Partners Fund I, a USD112.5 million investment vehicle raised in May 2014.
