Madison Capital Funding LLC led debt financing backing an acquisition of EBS Healthcare by The Stepping Stones Group LLC.

EBS Healthcare is a Pennsylvania-based therapeutic and behavioral company. The Stepping Stones Group provides therapeutic and behavioral services to children, including those with special needs and autism. EBS and Stepping Stones will remain separate companies.

The Stepping Stones Group is a portfolio company of Five Arrows Capital Partners, the U.S. middle-market private equity business of Rothschild & Co. Merchant Banking.