The Stepping Stones Group (Stepping Stones) has acquired EBS Healthcare (EBS), a Pennsylvania-based therapeutic and behavioural company.
The combination of Stepping Stones and EBS creates a premier, national provider of therapeutic, behavioural, autism, nursing and educational services to children in school, home and community settings. As a mission driven organisation, the combined company will transform the lives of children, families and communities in over 900 school districts across 42 states.
The combination of The Stepping Stones Group and EBS Healthcare creates a premier, national provider of therapeutic, behavioural, autism, nursing and educational services to children in school, home and community settings.
While EBS and Stepping Stones will remain legally separate companies marketing their respective brands, they will be led and managed by a combined leadership team. Mark Stubits, Founder and CEO of EBS, will continue to play an instrumental role in the company’s future as a shareholder, and will become Vice Chairman of Stepping Stones’ Board of Directors. He will work closely with the group’s Chief Executive Officer Tim Murphy on bringing the organisations together and developing strategies for future growth.
“Today’s announcement is a transformational moment for EBS Healthcare and The Stepping Stones Group employees and stakeholders. By joining forces, we better fulfil our mission of transforming the lives of children, families and communities we serve,” says Chief Executive Officer Tim Murphy. “Mark and his team have built a phenomenal company based on clinical excellence, professional development of tomorrow’s therapeutic and behaviourist leaders and fantastic customer service. I look forward to partnering with Mark and the EBS team – together we will become the leading provider of therapeutic, behavioural and autism services for children across the country.”
“With Stepping Stones, I believe we enhance our mission ‘to make a difference, every day, in the lives we touch’ by expanding our reach nationally to serve more school districts and be the employer of choice for therapists, behaviourists and educators,” adds Mark Stubits, Founder and CEO of EBS Healthcare. “Stepping Stones has grown their presence both organically and by partnering with other founder-led companies, like EBS. I believe their success is the result of a commitment to quality of care, and customer service. Moreover, their openness to different ideas and new teams through their prior successful partnerships signifies to me their respect for legacy. I am greatly enthused at the prospect of working with Tim and his leadership team to make our combined company the industry standard.”
“This transaction marks a major milestone in our investment thesis of scaling nationally to address the unmet needs of families, school districts and diagnosticians seeking a partner to deliver critical developmental services to children and adolescents,” says Michael Langer, Partner at Five Arrows Capital Partners. “We are proud to support Stepping Stones’ acquisitive growth strategy as they continue to expand the company’s national footprint, service offerings and settings.”
The Stepping Stones Group was represented by Troutman Pepper Hamilton Sanders LLP for legal advisory services. Madison Capital Funding LLC led the debt financing. EBS Healthcare was represented by Capstone Headwaters as exclusive financial advisor and Polsinelli for legal advisory services.
