Monroe Capital LLC announced on February 5 2026 that it is the lead arranger for a debt financing and has made an equity co‑investment to support the majority recapitalization of CST Academy, a pediatric therapy provider, by private‑equity sponsor Golden Bear Partners.
The transaction, which includes an undisclosed amount of debt and an equity stake that gives Golden Bear Partners a controlling interest in CST Academy, is intended to fund the company’s expansion of services across the Chicago market and into surrounding regions. The capital will be used to open new locations, hire additional therapists, and invest in technology platforms that streamline care delivery.
CST Academy has grown steadily over the past few years, opening new centers in Buffalo Grove (June 2025), Northbrook (early 2024), and Wilmette (2022). The company’s multidisciplinary model—offering applied behavior analysis, speech, occupational, and other therapies under one roof—positions it to capture the rising demand for comprehensive pediatric therapy services, particularly for children with autism spectrum disorder.
Monroe Capital’s focus on independent sponsor transactions is exemplified by this deal. The firm specializes in providing debt and equity capital solutions that allow sponsors to execute growth and recapitalization initiatives without the need for a traditional private‑equity partnership structure.
Golden Bear Partners, founded by Michael Fisher, invests in founder‑owned essential services companies and seeks to empower leaders to grow businesses. The firm’s strategy aligns with CST Academy’s growth trajectory, and the partnership is expected to accelerate the company’s expansion while preserving operational autonomy for its founders.
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