LOS ANGELES, CA—October 5, 2020—Atar Capital, a global private investment firm, announced today that its portfolio company, Pathways Health and Community Support, LLC (Pathways), one of the largest providers of behavioral and mental health services in the United States, has acquired three Community Intervention Services, Inc. (CIS) subsidiaries: Access Family Services (AFS), Family Behavioral Resources (FBR) and Autism Education and Research Institute (AERI), which will operate as a combined entity, FBR-AERI. Terms of the agreement were not disclosed.
Atar Capital acquired Pathways in 2018 as part of a strategy to put the firm’s cross-functional expertise to work in a critical and fast-growing segment in the healthcare space. Cyrus Nikou, founder and managing partner of Atar Capital, said, “With this acquisition, Pathways further strengthens its capabilities and ability to meet the increasingly critical need for mental and behavioral healthcare services in the U.S. It is an exciting achievement for Pathways and for Atar as we continue to expand upon our common goal of providing excellent behavioral healthcare services for all the individuals Pathways has the privilege to serve.”
Pathways provides a range of services for adults, children and families that include counseling, telehealth, autism services, case management, therapeutic foster care, parent education, supportive employment and substance use services and provides employer-based services through Pathways at Work. AFS and FBR-AERI’s service offerings align with Pathways’ mission to improve the lives of people by inspiring personal growth, health and wellness. AFS offers community-based, school-based and outpatient behavioral health and autism services in North Carolina and South Carolina. FBR-AERI, serving 30 locations throughout Pennsylvania, is a leading provider of outpatient and community-based behavioral health services. s
“I’m honored to lead this growing team of committed and talented behavioral health professionals,” said Jill Winters, CEO of Pathways. “By joining forces, we can reach and assist more children, families, adults and employees with services tailored to help them reach their goals. This acquisition fulfills our commitment to deliver behavioral health services to more individuals and more communities in inclusive, open, ethical and positive environments.”
Nikou led the Atar investment team that also included Senior Managing Director Robert Lezec, Managing Directors Stanley Huang and Vijay Mony and Senior Associate Roman Zelinsky. Duff & Phelps Securities, LLC served as exclusive financial advisor to CIS in the transaction.
Pathways Health and Community Support, LLC is one of the largest providers of behavioral and mental health services in the United States. Originally founded in 1997 as Providence Service Corporation, Pathways’ mission is to improve the lives of people by inspiring personal growth, health and wellness. The organization offers a full spectrum of social services and behavioral health solutions, including mental health support, youth and family services, adult services, and prevention services, to clients in their homes or through telehealth and community-based resources. The company also offers employer-based programs to help employees manage stress, anxiety and other behavioral health challenges through Pathways at Work. For more information visit www.pathways.com.
Atar Capital is a global private investment firm that acquires a wide range of lower middle market businesses exhibiting opportunities for growth, revitalization and significant value creation. Atar Capital’s principals have completed more than 80 private equity transactions across North America, Europe and South America.
Atar Capital’s combination of operational expertise, industry knowledge and investment experience provide a unique edge in creating value and working as a true partner with its portfolio companies. The firm assists in activities ranging from growing the business to improving operations and financial performance, leveraging all available resources and talent within Atar’s leadership team, as well as its bench of seasoned senior advisors with deep sector and functional expertise. For more information, please visit www.atarcapital.com.
Patricia Kilgore
Sterling Kilgore, Inc.
630-964-8500 ext. 223
pkilgore@sterlingkilgore.com
T.J. McCaffrey
Atar Capital
310-870-0808
tjmccaffrey@atarcapital.com
