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Private Equity Firm Gryphon Investors Acquires Majority Stake in LEARN Behavioral

March 19, 2019

Private equity firm Gryphon Investors on Tuesday announced that it has acquired a majority stake in LEARN Behavioral, a network of providers serving children with autism and other special needs, from LLR Partners. LLR will remain a minority owner in the company.

Based in Baltimore, LEARN serves more than 4,000 families in 23 states, providing behavioral treatment services for autism and related disorders in homes, dedicated centers and schools. Its treatment is based on the science of applied behavior analysis (ABA) and related therapies.

The acquisition is Gryphon’s first in behavioral health, and terms of the deal were not disclosed. Berkery Noyes served as lead financial advisor to Gryphon, and Kirkland & Ellis served as the private equity firm’s legal advisor. Harris Williams & Co. served as the exclusive financial advisor to LEARN on the deal, while McGuireWoods acted as its legal advisor.

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