The Stepping Stones Group, an autism and behavioral health provider, announced plans to purchase the Center for Social, Educational and Behavioral Therapies (CBEST) for an undisclosed sum.
Based in Los Angeles, CBEST focuses on providing Applied Behavior Analysis (ABA) services. Founded by Shah Bahador in 2002, the center serves students who have emotional or neurodevelopmental disorders, including autism spectrum disorder, as well as those with an intellectual or developmental disability.
Following this acquisition, Bahador will join Stepping Stones as its clinical director and will report to the president and COO of the company’s K-12 practice.
Boston-based Stepping Stones currently works in 45 states. Its 8,000 employees serve more than 1,000 clients and 300,000 children a year.
In 2017, the company was acquired by the private equity firm Five Arrows Capital Partners. In 2021, reports surfaced that Five Arrows initiated a competitive sales process geared towards private equity buyers. However, as of July 2022, the company is still listed as part of the private equity firm’s portfolio.
There is a growing demand for autism services. the Centers for Disease Control and Prevention reports that about 1 in 44 children in the US has an autism spectrum disorder. The agency reports that boys are four times more likely to be diagnosed with autism than girls.
Additionally, 1 in 6 children is diagnosed with a developmental disability.
Stepping Stones has made a number of acquisitions in recent years.
In June, Stepping Stones bought a therapeutic behavioral health company HM therapy for an undisclosed sum. The group has also bought: The South Coast Autism CenterEBS Healthcare, Futures and Behavioral Learning Center, New England ABA, Star of CA, and Ador School Solutions.
The CBEST news comes amid a wave of layoffs in the autism field.
For example, ABA therapy provider 360 Behavioral Health laid off 503 employees in California. Additionally, the Center for Autism and Related Disorders (CARD) closed its 10 Oregon Centers, resulting in 156 layoffs. Venture-funded digital ABA provider Elemy also made cuts.
