Prospect Partners' Education Platform Acquires Third Post-Secondary Operating School, Expands Presence in Texas
CHICAGO, Ill.—August 14, 2007: Post-secondary education provider Education Futures Group, LLC (EFG), is pleased to announce the acquisition of the Amarillo and Lubbock locations of Texas Computer Training Institute, Inc. (TCTI). For EFG, which operates for-profit career schools in secondary markets in the United States, the management-led acquisition is the latest move in the company's expansion into the Central and Rocky Mountain regions. Since June 2006, EFG has purchased two other career education schools, Computer Career Center of El Paso, Texas, and Certified Careers Institute of Salt Lake City, Utah.
TCTI provides specialized education in three distinct areas: computer training, allied health administration and office administration. EFG made the acquisition of the campuses in partnership with TCTI owner Trey Owen, who will continue to manage the school's daily operations.
TCTI expands our presence in West Texas to two exciting new locations we feel are a natural fit for the company," says Jim Tolbert, EFG's Chief Executive Officer. "We look forward to working with Trey to grow the school and its programs to their fullest potential under the EFG umbrella."
A platform company of lower-middle-market private equity firm Prospect Partners, LLC, EFG seeks to grow in large part through the addition of new campuses, either organically or through acquisition. Computer Career Center, which EFG acquired in June, 2006, recently expanded into New Mexico, opening a branch campus in Las Cruces. Certified Careers Institute has locations in Salt Lake City and Clearfield, Utah.
EFG continues to seek acquisitions of smaller accredited
post-secondary education operating companies with revenues
between $1 million and $10 million in secondary markets across
the United States, where the target companies could benefit from
an operationally-oriented buyer with a strong capital base.
About Prospect Partners,
Prospect Partners, LLC,
of Chicago, Illinois, is a leading lower-middle-market private equity firm, managing $270 million in two funds.
Since its inception in 1998, Prospect Partners has focused on management-led
leveraged acquisitions of small niche leaders with revenues typically between $10 million and $30 million; the
firm has invested in more than 65 companies across a wide variety of niche consumer, specialty distribution
and service markets throughout the United States.