Audax Private Equity Completes Exit of Proud Moments

BOSTON & SAN FRANCISCO--(BUSINESS WIRE)--Audax Private Equity (“Audax”), a capital partner for middle market companies, announced today that it has completed the sale of Proud Moments ABA, a provider of applied behavioral analysis (ABA) therapy to children with autism. Providence-based private equity firm Nautic Partners acquired Proud Moments. Terms of the deal, which was completed on February 3, 2025, were not disclosed.

Proud Moments clinicians help individuals with developmental disorders, most commonly autism, learn new skills, improve social interactions, and reduce challenging behaviors.

“When we first backed the company, our principal objective was to increase access to care and invest in the organization’s foundation to drive outcomes for Proud Moments’ patients,” noted Keith Palumbo, Partner and Co-President of Audax Private Equity. “We did this through building out the corporate infrastructure and management team; investing in de novo growth; completing seven acquisitions to expand the company’s geographic footprint; and recruiting behavioral technicians and board-certified behavior analysts to enhance and grow the clinical team.”

“Audax distinguished itself as a collaborative partner during its ownership through their experience around care delivery as well as their intense focus on the quality of care,” added Matt Henn, Chief Executive Officer. “We’re excited to work with Nautic Partners during the next stage of the company’s growth and look forward to building upon what Audax and the entire Proud Moments team have accomplished together over the previous six years.”

During Audax’ hold, Proud Moments grew from operating seven locations, concentrated in the New York tri-state area, to over 70 clinics across 12 states, and today provides a balance of both home- and center-based care. Proud Moments currently works with approximately 3,000 children on a weekly basis, representing more than fourfold growth in patients since Audax’ original investment in 2019.

“This represents the second realization out of our healthcare specialization over the last six months, demonstrating the ability of our Buy & Build strategy to help drive value creation,” noted Adam Abramson, a Partner at Audax Private Equity. “We first invested in Proud Moments just prior to the global pandemic, and through the combination of organic and inorganic growth initiatives in close collaboration with management, we were able to see our vision and thesis through, benefitting the company, its patients and our investors.”

Calex Partners served as advisor to Audax Private Equity and Proud Moments on the sale.

ABOUT AUDAX PRIVATE EQUITY:

Headquartered in Boston, with offices in San Francisco, New York, and London, Audax Private Equity manages three strategies: its Flagship and Origins private equity strategies, seeking control buyouts in the core middle and lower middle markets, respectively, and its Strategic Capital strategy that provides customized equity solutions to PE-backed portfolio companies to help drive continued growth. With approximately $19 billion of assets under management as of June 2024, over 280 employees, and 100-plus investment professionals, Audax has invested in more than 170 platforms and 1,350 add-on acquisitions since its founding in 1999. Through our disciplined Buy & Build approach, across six core industry verticals, Audax seeks to help portfolio companies execute organic and inorganic growth initiatives with the aim of fueling revenue expansion, optimizing operations, and significantly increasing equity value. For more information, visit www.audaxprivateequity.com or follow us on LinkedIn.

ABOUT PROUD MOMENTS:

Proud Moments is a provider of applied behavioral analysis therapy for children diagnosed on the Autism Spectrum. It is our mission to provide the Gold Standard of Care and expand access to all families seeking ABA therapy. We are committed to providing the resources, education and continued advancement of our professional team to attract, retain and develop top-tier talent. We have partnered with some of the highest quality providers in the field of ABA and are excited by the opportunity to continue building on our mission in the areas we serve. Proud Moments’ headquarters are in New York, New York. For more information, visit www.proudmomentsaba.com.