Strategic healthcare transaction guided by Bailey’s industry expertise
Nashville, TN: (December 17, 2024) Bailey & Company is pleased to announce its role as the exclusive financial advisor to Constellations Behavioral Services, a leading regional provider of applied behavior analysis (ABA) and related treatment services, in its sale to The Stepping Stones Group (SSG), a behavioral health provider backed by Leonard Green & Partners. This transaction expands SSG’s reach, adding new school districts to its K-12 Practice and center locations, and coverage and management talent to its Autism & Community Services Practice.
“Partnering with an M&A advisor who understood the ABA sector and our transition goals was essential,” said Tim Heald, co-founder of Constellations Behavioral Services. “The Bailey team guided us through every step, finding the perfect partner and ensuring a smooth transition. We’re grateful for their support in securing a new future for the company that will maintain the culture and innovation that we inspired and take it to the next level.”
By integrating Constellations’ expertise with SSG’s national platform, the combined entity will be empowered to expand service offerings, open more treatment centers, and provide enhanced resources to school district customers, leveraging their collective strengths to meet the growing demand for specialized behavioral health services.
“Navigating the sale of our company was both a significant challenge and an exciting opportunity,” said Kim Heald, co-founder of Constellations Behavioral Services. “Bailey & Company’s expertise was invaluable in assisting Tim and me throughout this process. Their team not only understood our vision but also helped us navigate the complex emotional and financial aspects of the sale.”
Founded in 2009 and headquartered in New Hampshire, Constellations has grown to become the leading provider of ABA and related services to children with autism spectrum disorder in New Hampshire and Northern Massachusetts. The company operates through two main divisions: the Family Services Division, offering center-based intensive ABA programs and speech therapy for young learners, and the School Services Division, providing educational and behavioral consulting services and training for multiple school districts.
“Guiding Constellations Behavioral Services through this transformative partnership has been a privilege,” said Bailey & Company Managing Director Russell Bryan. “Our deep-rooted expertise in the behavioral health sector, including in autism treatment services, enabled us to navigate the complexities of this deal and secure a beneficial outcome with SSG. We look forward to the innovative possibilities and expanded reach that this partnership will create, ultimately supporting countless children with special needs and their families throughout the region.”
Bailey is a Nashville-based merchant banking platform focused on growth and late-stage healthcare and technology companies. Through the firm’s M&A advisory and principal investing businesses, Bailey supports strong management teams that have built scalable platforms by providing strategic insights, world class advice, and access to one of the most diverse networks of industry experts. For more information see: www.bnco.com.
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