client_transactions

SSG Client Transactions

Title

Green Tree School & Services
Client Profile

Client Profile

Green Tree is a non-profit organization that provides education and therapeutic clinical support to children and young adults ages 3-21 who are diagnosed with autism spectrum disorder or with severe emotional disturbance. The Organization was founded in 1957 and serves over 350 children annually on-site at its Philadelphia facility or in schools throughout the region, primarily in Philadelphia County. Green Tree receives revenue directly from school districts, other government-funded organizations and from third-party insurance payers so families do not pay tuition or any fees for services.
Situation

Situation

In 2011, in response to the increased demand for services and faced with facilities that were outdated, Green Tree decided to consolidate operations to one location. In order to fund the construction of a new building, the Organization entered into an agreement with a regional bank for a significant construction loan and utilized a large portion of its reserve fund. While Green Tree's operating cash flow at the time was sufficient to service its debt, its senior management team led by CEO Patricia Wellenbach and COO Julie Alleman, hired in 2013, uncovered a variety of organizational, billing and operational problems. The new management team addressed these issues expeditiously and a number of initiatives were implemented to improve operations and ensure that Green Tree was capable of continuing its mission.Organization.
Solution

Solution

SSG was retained by Green Tree in January 2015 to evaluate strategic alternatives. In addition to contacting a number of potential lenders to attempt to refinance the debt, SSG also conducted a comprehensive marketing process to non-profit and for-profit organizations to determine if there was an interest in creating a partnership. While multiple organizations engaged in discussions regarding an affiliation or acquisition, the ultimate party chosen was Salisbury, a Baltimore based behavioral health and special education organization with operations throughout Pennsylvania and Ohio. SSG's experience in identifying buyers and running a thorough sale process enabled key stakeholders to maximize value while preserving the legacy of Green Tree with its long history of providing services to special needs children in the Philadelphia area.
August 2015
has sold all of its outstanding stock and
its real estate to affiliates of
The undersigned acted as Investment Banker 
to Green Tree School & Services.

Call to learn more

Call to learn more

If you would like to learn more about this transaction, or any of our transactions, call us today.

Philadelphia
(610) 940-1094

Contact by E-mail »

New York
(212) 786-7432

Contact by E-mail »