Concord, CA (December 3rd, 2024) – Today, Goldman Sachs Alternatives (“Goldman Sachs”) and NMS Capital (“NMS”) jointly announced Goldman Sachs’ acquisition of Center for Social Dynamics (“CSD””), a leading provider of applied behavior analysis (“ABA”) to children with Autism Spectrum Disorder (“ASD”). Goldman Sachs is acquiring CSD from NMS, who will re-invest in CSD alongside Goldman Sachs Alternatives. Terms of the transaction were not disclosed.
CSD is an omni-channel provider of ABA therapy to children with ASD and other developmental conditions, delivering high-quality, evidence-based, individualized care in multiple settings, including in-person at home, virtually, in schools, and in centers. CSD’s care offering includes a purpose-built virtual care platform that creates an engaging and effective environment for children and their families to receive care.
This transaction positions CSD to continue its efforts to expand access to high-quality care for clients and their families in an area of the healthcare industry with significant unmet need.
“CSD is committed to meeting our clients where they are and providing high-quality care across multiple settings. Serving our clients and their families well has been and will continue to be our highest priority,” said Kelly Bozarth, CEO of CSD. “We are excited about the expansion in our business that we have driven in partnership with NMS and look forward to the next chapter in our growth journey in partnership with Goldman Sachs. We believe the resources and expertise at Goldman Sachs will enhance our capabilities as a company and accelerate our ability to grant access to care while continuing to improve client outcomes and family well-being.”
“We are grateful for the opportunity to have partnered with Kelly and her team to increase accessibility for those seeking ABA therapy and are proud of the growth we have accomplished to date,” said Martin Chavez, Managing Partner and Co-Founder of NMS Capital. “Under NMS’s ownership, CSD expanded from a Northern California base to serving the entire state of California and four other Western states and built a strong leadership team that is constantly innovating and setting new standards in their field. We are excited to be a part of the company’s continued growth journey and look forward to this next phase of CSD’s expansion in close partnership with the Goldman Sachs team.”
“We are thrilled to be collaborating with Kelly and the CSD team and are fully aligned with their mission to increase access to high-quality care for children with ASD and their families,” said Jason Slocum, Managing Director in Inclusive Growth at Goldman Sachs Alternatives. “CSD’s elevated focus on clinical quality standards and client outcomes, its multi-site approach to care, and its innovative virtual offering are differentiated aspects of the business that we believe will support continued growth in existing states and expansion into new regions.”
Adrian Jones, Partner, Chairman and Co-Head of Global Private Equity at Goldman Sachs Alternatives adds, “having been actively engaged with the autism community for over two decades, I’ve seen firsthand how difficult it can be for parents of children with autism to find a reputable provider of ABA therapy. I see CSD as a leader in the field and am proud that Goldman Sachs will be partnering with the company to further expand access to high-quality ABA therapy.”
CSD serves over 4,000 clients across California, Washington, Oregon, Hawaii, and Colorado, delivering 1.3mm hours of care annually. CSD employs a team of approximately 1,500 providers, including RBTs (“Registered Behavior Technicians”) and BCBAs (“Board Certified Behavior Analysts”), and supports its team through initiatives such as CSD Career Pathways and “Dreams Come True”, which offers access to CSD funded undergraduate and graduate-level courses and degree programs across its entire workforce
Raymond James served as the exclusive financial advisor and McDermott Will and Emery served as legal counsel for CSD. Latham & Watkins served as legal counsel for Goldman Sachs.
About Sustainable Investing at Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, hedge funds and sustainability. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has more than $3.1 trillion in assets under supervision globally as of September 30, 2024.
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About Center for Social Dynamics
Center for Social Dynamics provides services to those with Autism and other developmental conditions. CSD integrates personalized, evidenced-based therapies into natural routines in the home, in schools, in centers, and virtually through CSD Global Community. CSD offers serves across California, Washington, Oregon, Hawaii, and Colorado.
CSD’s multi-disciplinary team provides behavioral therapies to improve communication, adaptive behaviors, social and motor skills. CSD is recognized for its personalized, culturally sensitive programs that are grounded in science, compassion and humility. CSD mission is to open a world of possibilities for those with Autism and other developmental conditions by making access to high-quality care possible.
For more information about CSD, visit www.csdautismservices.com.
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