BIG MONEY IN ABA SERIES: Review of the Data (RECORDED)

2010 marks a new era in the field of behavior analysis and those ABA Service Provider organizations. In January 2010, Great Point Partners, a Private Equity (PE) firm with $370 million under management was the first PE firm to enter the Autism industry. . .

With its acquisition of Pacific Child and Family Services, it created a platform company, Autism Learning Partners (ALP). Over the course of 8 years during which Great Point Partners (GPP) remained the BIG Money sponsor, ALP made 6 add-on acquisitions to become one of the largest ABA provider organizations in the U.S. 

In December 2016, Great Point Partners sold Autism Learning Partners to a larger PE firm, FFL Partners, with $1.5 BILLION under management. With this transaction, GPP exited the Autism industry with $270 million, realizing a return on investment that would end up being one of the most successful exits in the Autism industry.

Since 2010, more than 60 PE firms have entered and left the field, buying and selling nearly 150 ABA service provider organizations. With targeted acquisitions of the largest ABA agencies and subsequent follow-on acquisitions, it would not be inaccurate to estimate the combined market share of PE-backed organizations as high as 70% to 80%. 

What does this mean? Who’s buying? Who’s selling? Who’s winning? Who’s losing? 

In this webinar, we addressed these questions and reviewed data gathered over 6 months, with thousands of hours of investment to begin to piece together the real story. 

WEBINAR DETAILS:

Date: March 25th, 2020

Time: Noon to 1:00 pm CENTRAL

Panelist(s):

• Karen Chung, CEO

Price: $199 (includes 30-day access to a recording of the LIVE event)

Learning Objectives and Outcomes:

• Participants will be able to operationally identify “winners and “losers” and the resulting impact on the field of behavior analysis.
• Participants will be able to describe the timeline of PE activity in the field of behavior analysis.
• Participants will be able to analyze the correlation between the state Autism Insurance Mandates and Private Equity activity in the Autism industry. 
• Participants will be able to list the top 10 largest PE-backed platform companies and individual ABA agencies that make up the platform. 
• Participants will be able to list the top 10 private equity companies that are currently active in the field. 
• Participants will be able to list the private equity companies that have exited the field.
• Participants will be able to describe the profile of attractive acquisition targets and key elements that affect valuation.
• Participants will be able to describe the deal process from term sheet to closing.
• Describe the background and competencies of PE professionals vis a vis the background and competencies of BCBA owners. 

DEFINITIONS:

PE Platform Company: An agency, either purchased or created, that will be used as the foundation to scale exponentially, either via organic growth (a/k/a de novo) or acquisitions (of same or related businesses) in order to “roll-up” and sell to another financial (PE firm) or strategic buyers (large Behavioral Care, I/DD, Pediatric Services, etc.) in order to generate 3 to 10 times on their original investment.

Dry Powder: Funds still available to invest in companies (a/k/a deals or transactions)

Each purchase corresponds to 1 user license/access. Only the user assigned to a subscription will be able to participate in the lives and receive the recorded version.

Access to the recorded version is valid for 1 month.

MANDATORY DISCLAIMER:  The Behavior Analyst Certification Board®  (“BACB”) does not sponsor, approve or endorse Special Learning, the materials, information, or sessions identified herein.

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