Shore Capital Partners said Wednesday it has invested in the Florida Autism Center via a recapitalization and formed SCP Autism Services LLC. Financial terms weren’t announced. The Florida Autism Center provides center-based applied behavior analysis treatment services to children diagnosed with Autism Spectrum Disorder.
CHICAGO–(BUSINESS WIRE)–Shore Capital Partners (“Shore Capital” or “Shore”) is pleased to announce that it has completed the recapitalization of Florida Autism Center (“FAC” or the “Company”) and the formation of SCP Autism Services, LLC. Florida Autism Center provides center-based applied behavior 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 centers in central and northern Florida.
Shore has partnered with Chrystin Bullock, a Board Certified Behavior 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 center openings and expansion within the existing centers.
“We could not be more excited to partner with Chrystin and her team of clinicians and operators. We look forward to building a leading organization in Florida, while continuing to provide the highest quality clinical care to the autism community,” said John Hennegan, Partner at Shore Capital and Chairman of SCP Autism Services, LLC.
Chrystin Bullock commented, “In seeking a partner for growth, it was important to select an organization 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 realizing 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 centralize 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, L.P., a $112.5 million investment vehicle raised in May 2014.
About Shore Capital
Shore Capital is a Chicago-based private equity firm focused exclusively on microcap healthcare investments. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value to shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has approximately $150 million of equity capital under management through various investment vehicles including Shore Capital Partners Fund I, L.P. with $112.5 million of capital commitments.