Secondary Buyout • Healthcare Services

NexPhase Capital Acquires Behavior Frontiers

On May 5, 2025, private equity firm NexPhase Capital acquired healthcare services company Behavior Frontiers from Lorient Capital

Acquisition Context
  • This is NexPhase Capital’s 5th transaction in the Healthcare Services sector.
  • This is NexPhase Capital’s 39th transaction in the United States.
  • This is NexPhase Capital’s 5th transaction in California.

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M&A Deal Summary

Date May 5, 2025
Target Behavior Frontiers
Sector Healthcare Services
Buyer(s) NexPhase Capital
Sellers(s) Lorient Capital
Deal Type Secondary Buyout

Target Company

Behavior Frontiers

El Segundo, California, United States
Behavior Frontiers is a provider of applied behavior analysis (ABA) therapy for individuals with autism and developmental needs. It delivers individualized, data-driven treatment programs through clinics, homes, and community settings. Behavior Frontiers was founded in 2004 and is based in El Segundo, California.
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Buyer Overview 1

Buyer

NexPhase Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NexPhase Capital is the private equity investment arm of investment bank Moelis & Company. The firm targets growth equity and control buyouts requiring equity investments of $40 to 225 million. NexPhase Capital has particular interest in the business services, consumer and retail, financial services, healthcare services, industrial and telecom industries. NexPhase Capital was formed in 2007 and is based in New York, New York.


Deal Context for Buyer #
Overall 41 of 44
Sector: Healthcare Services 5 of 6
Type: Secondary Buyout 10 of 12
State: California 5 of 6
Country: United States 39 of 42
Year: 2025 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-21 Synergy HomeCare

Tempe, Arizona, United States

Synergy HomeCare provides in-home care services to seniors and individuals of all ages. With over 240 franchises operating in approximately 550 territories across 42 states, the company offers a broad range of non-medical in-home services, including personal care, companion care, memory care, and specialized care for individuals living with physical or developmental disabilities, chronic health conditions, or recovering from illness or surgery. Synergy HomeCare was founded in 1999 and is headquartered in Tempe, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-10 Zing Zang

Chicago, Illinois, United States

Zing Zang is a manufacturer and seller of non-alcoholic cocktail mixes throughout the United States and Canada at local liquor and grocery stores, as well as in the restaurants, bars, and country clubs. Zing Zang was founded in 1997 and is based in Chicago, Illinois.

Sell -

Seller Profile 1

DESCRIPTION

Lorient is a private investment firm focused exclusively on the healthcare industry. Lorient looks for cash-flow-positive companies requiring $25 to $100 million of equity capital. Specific ares of interest include physician practice management, post-acute care, behavioral health, and outsourced services such as staffing, education, and consulting. Lorient Capital was established in 2015 and is headquartered in Birmingham, Michigan.


Deal Context for Seller #
Overall 1 of 1
Sector: Healthcare Services 1 of 1
Type: Secondary Buyout 1 of 1
State: California 1 of 1
Country: United States 1 of 1
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-05 American Family Care

Birmingham, Alabama, United States

American Family Care is an operator of urgent care and accessible primary care facilities in the country. AFC uses electronic medical records and has a high-tech, high touch approach to medical care, including digital x-ray system and an on-site laboratory. American Family Care was founded in 1982 and is based in Birmingham, Alabama.

Buy -