Based in Raleigh, NC, Broadstep Behavioral Health provides a continuum of physical, emotional, and mental support for children and adults with intellectual and developmental disabilities (I/DD), mental illness, and co-occurring disorders. Broadstep offers a range of support programs, including residential group homes, specialized schools for children, and vocational and day programs that help foster life skills development and realize social and professional potential. Broadstep Behavioral Health operates in seven states (Illinois, Indiana, New Jersey, Nebraska, North Carolina, South Carolina, and Wisconsin).
Broadstep is backed by Bain Capital’s Double Impact fund, and Scale Finance has provided corporate finance services for the Company in recent years.
Broadstep has acquired several independent provider organizations over the course of the last 18 months including:
- Good Hope Manor (WI)
- Excalibur Youth Services (SC/NC)
- Bethesda Lutheran Communities (IL, WI, IN)
- Pinelands (SC).
These acquisitions expand Broadstep’s service offerings, extend the Company’s reach into two new states, provide them with 34 new locations and an additional 516 residential beds. Broadstep now serves individuals and agencies across seven total states, 994 residential beds and 898 community-based/day programming spots.
Good Hope Manor (WI): Originally founded in 2003 by Chris and Linda Witzlib, these six homes serve the greater Milwaukee area by offering assisted living services to some of the most medically fragile individuals with mental and physical health challenges.
Excalibur Youth Services (SC/NC): Formally known as Avalonia Group Homes, Dr. MJ Short founded this company in 1989 to provide residential treatment services to I/DD and severely mentally ill populations throughout SC. The company expanded its presence to six treatment facilities in SC and a Level III group home in NC. Since its inception, the company was led by the Short family, and we are proud that John Short has continued with Broadstep post-acquisition as our Regional Vice President-Southeast.
Bethesda (IL, WI, IN): For over 100 years, Bethesda Lutheran Communities has worked to empower the individuals they serve to become active members of their communities. Through their work in residential care and I/DD services, Bethesda built a variety of programming across 13 states nationally, including at-home life skills development, job placement/support, behavioral support and counseling, community engagement and day programs. The acquisition of group homes in 3 of these 13 states added nearly 250 licensed beds to our Broadstep residential offering.
Pinelands (SC): As a family owned and operated provider since 1996, these four facilities in the Summerville, SC area have offered holistic and individualized programs for children and adolescents with significant impairment in behavioral, emotional, familial, and social functioning. Shawn Newsome, a member of the founding family, will continue with Broadstep-SC to help us reach our vision of becoming America’s first choice.
About Scale Finance
Scale Finance LLC (www.scalefinance.com) provides contract CFO services, Controller solutions, and support in raising capital, or executing M&A transactions, to entrepreneurial companies. The firm specializes in cost-effective financial reporting, budgeting & forecasting, implementing controls, complex modeling, business valuations, and other financial management, and provides strategic help for companies raising growth capital or considering M&A/recapitalization opportunities. Most of the firm’s clients are growing technology, healthcare, business services, consumer, and industrial companies at various stages of development from start-up to tens of millions in annual revenue. Scale Finance has multiple offices in the Carolinas including Charlotte, Raleigh/Durham, Greensboro, and Wilmington with a team of more than 45 professionals serving more than 130 companies throughout the region.