Nautic Partners has acquired Proud Moments ABA from Audax Private Equity, according to a news release.
Proud Moments, founded in 2014 and based in Brooklyn, New York, is a national provider of applied behavioral analysis (ABA) therapy to children and young adults with autism spectrum disorder.
Nautic, based in Providence, Rhode Island, is a middle market private equity firm focused on investments in healthcare and a few other sectors. The firm prefers to make $50 million to $400 million-plus equity commitments in a variety of growth, consolidation and buyout opportunities of North American companies with enterprise values from $100 million to $1 billion and more.
Audax, with private equity offices in Boston, New York and San Francisco, focuses on investments in middle market companies and has a wide flexibility on investment size. Founded in 1999, the firm targets companies within healthcare and several other industries, specifically those generating between $5 million and $80 million in annual EBITDA.
Terms of the transaction were not disclosed.