There’s no question that there is a massive demand for autism services. But it would be a mistake for investors to equate demand with easy profits.
Over the last decade, private equity (PE) firms have increasingly set their sights on the autism care sector—particularly providers of applied behavior analysis (ABA) therapy and other related services. With autism diagnoses rising and the need for support growing more urgent, the field presents an attractive opportunity for investment. However, as with any complex healthcare segment, success isn’t guaranteed simply because demand is high.
The early rush of investment saw some firms underestimating the operational challenges of running autism therapy businesses. Those who came in without fully grasping the unique dynamics of this space found that turning a profit was not as straightforward as anticipated. For those willing to do the hard work—learning the field, understanding the care model, and prioritizing clinician quality—there remains a path to success.
“There is generally a surplus of demand. In a lot of communities, there are long wait lists, and there are people that are looking for access to care,” John Hennegan, founding partner of Shore Capital Partners, said at the Autism Investor Summit. “Again, some investors will mistake that surplus of demand for easy profits. That is not at all the case. I think what people have begun to appreciate, from the investor standpoint, is the scarce resource and the thing that you really have to protect is the BCBAs.”
Hennegan’s insights underscore a key reality: Board Certified Behavior Analysts (BCBAs), who are critical to ABA programs, are not easily replaced. The limited supply of trained professionals often restricts growth, even when demand is high. Protecting and supporting these professionals has become a priority for successful investors and providers alike.
Shore Capital Partners is a private equity firm with a growing footprint in the autism services space. Its portfolio includes notable providers such as Behavioral Innovations, Florida Autism Center, and The Stepping Stones Group—each offering various models of care and support for children and families.
As the sector matures, PE firms are evolving, too. Today’s investors are not just chasing returns—they’re increasingly investing in education about the autism field and striving to understand its nuances.
“There is a real movement that I see from private equity now to really understand the field,” Chryssy Moor, founder of the Florida Autism Center, said at AIS. “I think that the people who want to be in this field aren’t just going, ‘Oh, this seems like a hot investment. Let’s do it.’ They’re really getting to know the field now.”
Founded in 2005, the Florida Autism Center was acquired by Shore Capital in 2015, marking one of its earliest autism-related investments. That same provider was sold in 2020 to BlueSprig, a national autism services organization. The evolution of that business reflects a broader industry shift—moving from fragmented small clinics to larger, integrated networks under experienced management.
That deeper understanding is now extending to the due diligence process as well. Previously, deals were rushed, and clinical evaluations were an afterthought. Today, clinical operations are under scrutiny long before any deal is signed.
“‘I’ve seen a big shift in due diligence. Ten years ago, PE was not doing any clinical diligence,” Ronit Molko, CEO of Alongside, said at AIS. “And when it started to shift, I would literally get a phone call on a Friday saying, ‘We’re closing on Monday. Can you just check the box on the quality of the programs?’ That’s the first thing you should be looking at. Now we’re seeing a lot more focus on clinical diligence and compliance diligence where it didn’t exist.”
Alongside offers care in homes, schools, and clinics, reflecting the growing diversification of service models in the autism field. With backing from PE firms Fletch Equity and NewSpring Capital, Alongside is part of a new generation of providers that combine clinical integrity with sustainable business models.
As more experienced investors enter the field, the level of professionalism around acquisitions and partnerships is rising. That maturity, in turn, is boosting investor confidence and encouraging more thoughtful, long-term investment strategies.
The result? A healthier pipeline for future deals and better outcomes for all parties involved—especially providers who are considering a transition.
As activity heats up in the autism sector, it’s not only investors who need to do their homework—providers, too, must prepare. Founders who are considering a sale or partnership with PE firms should seek to understand not only how deals are structured but also what those relationships look like over the long term.
“If you’re interested in partnering with private equity, talk to as many groups as possible. There’s so many different flavors,” Hennegan said. “There’s so many different styles, and if they use jargon that you don’t understand, stop and ask what that means. Don’t ever be embarrassed to ask a question. It is your business. It is your baby. You’ve incubated it, you’ve raised it, you’ve built something really spectacular. Those private equity people wouldn’t be chasing you in the first place.”
Hennegan’s advice reinforces the idea that business owners must remain in the driver’s seat, even as they consider stepping away. Asking questions, staying informed, and aligning with the right PE firm can make all the difference in ensuring a successful partnership.
But it’s not just about the technical aspects of the deal. The emotional side of letting go is very real—and often overlooked.
“I would say something that I think is really missing in our industry,” Molko said, “[is] sellers need counsel to go through a process, and it’s not just legal and professional counsel, it’s kind of emotional counsel because you’re letting go of your of your business, and now being on the on the other on the buying side, I see how difficult it is for sellers to transition out of control of their business, to lack of control, especially if they roll over equity, and we just don’t have the right support for that transition to help, I think it could be a lot smoother and a lot less traumatic.”
Her point is poignant. Founders pour years of energy into building something meaningful. When it’s time to exit, the process can feel less like a transaction and more like a personal transformation.
As private equity’s role in the autism care ecosystem continues to grow, both sides—investors and providers—must bring curiosity, humility, and preparation to the table. The demand will remain high. The key to sustainability lies in how well the field protects its clinical integrity, supports its workforce, and evolves responsibly.
We’re Here to Guide Your Family—Let’s Get Started Together
At Golden Care Therapy, we’re dedicated to helping children and families thrive through evidence-based ABA therapy services. Whether you’re searching for a trusted ABA therapist in Indiana, New Jersey, New York, Georgia, or Florida, our compassionate team is ready to guide you every step of the way.
We tailor each plan to your child’s specific needs, focusing on real-world progress that brings confidence and independence. With skilled professionals and a deep commitment to care, we aim to empower every family we work with. Let us be your partner in growth—reach out today and experience the Golden Care difference.
