Broadstep Behavioral Health, serving individuals with intellectual and developmental disabilities (I/DD) and severe persistent mental illness (SPMI), acquired Bethesda Lutheran Communities’ (BLC) residential and support programs in Illinois, Indiana, and Wisconsin. Financial terms were not disclosed. BLC employees were invited to join Broadstep.
BLC was founded in 1900. It provides services and support for those diagnosed with I/DD through community-based homes, day programs, at-home life-skills development, job placement, and behavioral support. By acquiring BLC homes in Illinois, Indiana, and Wisconsin, Broadstep continues its expansion of residential services in the Midwest, following on the heels of the acquisition of Good Hope Manor in Wisconsin in December.
Founded in Wisconsin in 1972, Broadstep provides a continuum of physical, emotional, and mental support for children and adults with I/DD, mental illness, and co-occurring disorders. The organization has operations in seven states (Illinois, Indiana, New Jersey, Nebraska, North Carolina, South Carolina, and Wisconsin. It 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 is a portfolio company of Bain Capital’s Double Impact (BCDI) fund, which is the impact investing strategy of Bain Capital, a leading global private investment firm. Applying Bain Capital’s value-added approach to impact investing, BCDI partners with companies to scale their growth and impact to solve critical social problems alongside a financial return. BCDI’s areas of focus are health and wellness, sustainability, and education and workforce development. BCDI was named 2020’s Global Impact Investment Fund of the Year by London-based Private Equity International.
This was reported by Broadstep Behavioral Health on June 23, 2021.
Contact information: John Tote, Vice President of Business Development, Broadstep Behavioral Health, Inc., The Forum II Corporate Office, 8521 Six Forks Road, Suite 300, Raleigh, NC 27615; 919-219-3944; Email: firstname.lastname@example.org; Website: http://www.broadstep.com