Yes. Funds can be rolled over from an SEP IRA to a profit-sharing plan, provided the plan document that governs the profit-sharing plan is designed to allow such rollovers. If the plan document includes provisions to permit rollovers from SEP IRAs, the plan sponsor (employer) usually makes the election to agree to allow the rollover in the adoption agreement.
Approved custodians for profit-sharing plans are usually banks and non-bank custodians that are approved by the IRS. For a list of IRS approved nonbank custodians, see The IRS List Of Nonbank Trustees and Custodians.
For more on this topic, read Common IRA Rollover Mistakes.