LEARN Behavioral is acquiring Little Leaves Behavioral Services from FullBloom, multiple sources confirmed to Acuity Media Network, in a deal that would extend the Gryphon Investors-backed platform’s reach in the Mid-Atlantic and Southeast.
Key Takeaways
- Deal confirmed by multiple sources. Three sources familiar with the transaction confirmed to Acuity Media Network that LEARN Behavioral has acquired Little Leaves Behavioral Services, a division of FullBloom. Financial terms were not disclosed.
- Adds 18 centers across three states. Little Leaves operates 18 center-based ABA programs for children ages 1 to 6 across Maryland, Virginia, and Florida, including two Virginia centers opened in late 2025.
- Continues LEARN’s tuck-in strategy. The transaction follows LEARN’s February 2026 integration of Indiana-based Cornerstone Autism Center under its BACA brand, reinforcing a pattern of regional consolidation by the Gryphon-backed platform.
- Cross-platform PE transfer. Little Leaves currently sits inside FullBloom, an American Securities portfolio company; the deal would move the ABA division from one PE-backed parent to another.
- Comment requested. LEARN Behavioral CEO Michael Maloney and President Justin Funches, along with the company’s marketing team, did not immediately respond to Acuity Media Network’s request for comment.
Deal Details and Sourcing
Three sources familiar with the transaction confirmed to Acuity Media Network that LEARN Behavioral has reached an agreement to acquire Little Leaves Behavioral Services, the ABA division of FullBloom. The sources requested anonymity because they were not authorized to discuss the deal publicly.
Financial terms were not disclosed. Acuity Media Network has not independently verified the closing timeline or the structure of the transaction, and the deal has not been formally announced by either company. LEARN Behavioral CEO Michael Maloney, President Justin Funches, and the company’s marketing team did not immediately respond to a request for comment. Representatives for FullBloom and Little Leaves were not immediately reachable.
What It Means for LEARN’s Footprint
LEARN Behavioral, headquartered in Baltimore and backed by San Francisco-based Gryphon Investors since 2019, is one of the larger scaled platforms in the ABA sector. The company operates more than 100 Learning Centers and provides autism services in 17 states, according to LEARN, delivering both center-based and in-home care through brands including BACA in Indiana, BCI in Massachusetts, AST in California, and a network of regional providers consolidated over the past decade.
Little Leaves, a division of FullBloom, runs 18 center-based ABA programs designed for children ages 1 to 6 in a preschool-like setting across Maryland, Virginia, and Florida. In October 2025, Little Leaves announced the opening of its fifth and sixth Virginia centers, in Chantilly and Tysons Corner, citing rising demand for early intervention services in the region. Steven DeVore serves as president of the division.
The acquisition would extend LEARN’s Mid-Atlantic and Southeast presence, layering Little Leaves’ early-intervention center model onto LEARN’s existing multi-state platform. It also continues a pattern of tuck-in activity by scaled ABA platforms absorbing regional providers with established clinical reputations and local payer relationships. In February, LEARN completed the integration and rebrand of Indiana-based Cornerstone Autism Center under its BACA brand, which at the time of the announcement brought BACA’s Indiana footprint to nine learning centers.
A Cross-Platform Transfer Between PE-Backed Parents
The Little Leaves deal also reflects a broader market dynamic: the movement of ABA assets between private equity-backed parents. FullBloom, the seller, is a Philadelphia-based education and behavioral health services company backed by American Securities, a New York-based private equity firm with $23 billion in committed capital. American Securities acquired FullBloom in December 2021. FullBloom operates three divisions, with Little Leaves as its sole ABA business alongside Catapult Learning and Specialized Education Services, Inc.
For Gryphon and LEARN, the transaction adds an early-intervention, center-based provider to a portfolio that has grown primarily through regional tuck-ins. For FullBloom, the divestiture would narrow the company’s focus toward its school-based education and intervention businesses. Research published in JAMA Pediatrics earlier this year documented 574 PE-acquired autism service delivery sites across 42 states between 2015 and 2024, with consolidation accelerating sharply between 2018 and 2022.
Acuity Media Network will update this story as additional details become available.
