Transaction overview
Pharos Capital Group, LLC acquired Alpine Academy and Interventions Unlimited on September 24, 2019. The terms of the transaction were not disclosed publicly. Both companies are based in suburban Orlando, Florida, providing Applied Behavior Analysis (ABA)-based educational services and ABA therapy to children diagnosed with autism spectrum disorder, behavioral or emotional problems, learning disabilities, and other developmental disabilities.
Deal structure and financing
Details regarding the equity/debt split and specific financing terms of the acquisition were not disclosed. Cross Keys Capital served as the exclusive merger and acquisition advisor for Alpine Academy and Interventions Unlimited. No information was provided on leverage metrics, seller retained stakes, or lock-up periods associated with the transaction. Additionally, there is no public disclosure regarding any IPO optionality related to this deal.
Strategic context
Pharos Capital's Family Treatment Network (FTN) sought to expand its geographic reach into Florida through this acquisition of Alpine Academy and Interventions Unlimited, which offer specialized ABA-based autism services. FTN aims to diversify its care delivery methods and share best practices across its network by incorporating the broad capabilities of these organizations in home, school, clinic, and community-based care settings.
The rationale behind the sale from Alpine Academy and Interventions Unlimited's perspective was not explicitly stated but likely involved gaining access to resources that would enhance their capacity for growth under FTN's operational structure. Jing Zhou, founder of both entities, will continue to lead the company as CEO while becoming a shareholder in FTN, indicating her alignment with Pharos' vision for expanding high-quality treatment services.
Regulatory path
There is no specific information available about regulatory reviews or filings related to this acquisition. Given that the transaction involved healthcare service providers operating within Florida, it would likely have been subject to state-level health department scrutiny and possibly federal oversight due to the involvement of Medicare/Medicaid funding for certain services. However, without detailed disclosures from Pharos Capital Group or regulatory bodies, exact processes and timelines cannot be confirmed.