Cherry Tree advises Star Collaborative in its sale to LanceSoft

Cherry Tree advises Star Collaborative in its sale to LanceSoft

Cherry Tree advises Star Collaborative

“The Cherry Tree team was instrumental in advising Star Collaborative in the process of finding the right strategic partner for our long term. Their knowledge of the IT staffing industry and experience with people, operations, finance and the sale process helped us reach a great partnership with LanceSoft In addition, our attorneys at Fafinski Mark & Johnson were excellent, as they patiently worked to serve our best interests along with the interests of all the parties involved.”

Ed Lefkow, Co-Founder and CEO
Star Collaborative, LLC

INDUSTRIES:
IT Staffing, IT Services, and Business Services.
DESCRIPTION:  
Provider of staffing and workforce management solutions.
LOCATION: 
Minneapolis, MN
TRANSACTION TYPE:
Private/Sellside

Situation

The owner’s of Star Collaborative entrusted the right partner to advance their company to the next level. Star Collaborative engaged Cherry Tree to advise them on strategic alternatives related to the sale of the company​.

Cherry Tree’s Personalized Solution

Cherry Tree leveraged its IT Services experience in the process including introductions and discussions with a number of potential strategic acquirer’s and financial partners. Cherry Tree’s personalized process for soliciting proposals, negotiating terms and supporting the due diligence process resulted in successfully closing the transaction.

Outcome

The marketing process generated broad interest from a number of strategic and financial partners. The company was sold to LanceSoft, Inc, a nationally certified Minority Business Enterprise (MBE) providing highly scalable, cost-effective workforce solutions.

About Star Collaborative

Star Collaborative, LLC is a leading provider of staffing and workforce management solutions. STAR has a long list of marquee clients located in the Twin Cities market and partners with some of the region’s largest enterprises..

Woodstream Corporation

LanceSoft, Inc. currently operates out of several locations in the US and Canada and has established itself as a pioneer in providing highly scalable, cost-effective workforce solutions to a diverse set of customers across various industries in the United States.

About Cherry Tree & Associates

Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis, Minnesota. Founded in 1980, it specializes in M&A transactions for both buyers and sellers of middle market companies. Additionally, it conducts private placements for attractive, entrepreneurially managed growth companies, provides strategic advisory services to CEOs and boards of directors, and prepares fairness opinions and other valuation services. For more information, visit Cherry Tree & Associates.

Cherry Tree & Associates provides investment banking services through our FINRA-licensed broker dealer.

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FINRA
SIPC

Cherry Tree provided strategic advisory services to Troxell

Cherry Tree provided strategic advisory services to Troxell

About Troxell

Established in 1946 and headquartered in Phoenix, AZ, Troxell is the nation’s leading end-to-end solution provider for technology and collaborative solutions in K-12 and higher ed. With 65 offices nationwide, they combine large-scale purchasing power with the high-touch, consultative approach of a local specialist. Troxell-CDI has more than 70 offices nationwide providing product knowledge and personalized customer service with on-site expertise for every area of a school.

 

Cherry Tree & Associates provides investment banking services through our FINRA-licensed broker dealer.

DISCLOSURES
FINRA
SIPC

Cherry Tree advises FastBridge Learning in its sale to  Illuminate Education

Cherry Tree advises FastBridge Learning in its sale to Illuminate Education

Cherry Tree advises FastBridge Learning in its sale to Illuminate Education

​Illuminate Education Joins Forces with FastBridge Learning, Accelerating Shared Mission to Support the Whole Child

Acquisition unites proven assessments, assessment platforms, data analytics, intuitive reporting, curated item banks and pre-built assessments, and support services
 
Illuminate Education, the leading K-12 student performance system, has acquired FastBridge Learning, a research-driven assessment platform that transforms the way teachers measure and monitor student progress. Together, the companies comprise educator-driven Illuminate Education. The company provides effective formative assessments and assessment platforms, data that informs instruction, and the ability for educators to build strong systems of support within their districts.

The combination formalizes a long-time partnership between Illuminate Education and FastBridge Learning, aligning the technology, people, and processes required to support the whole child through data and a tiered instructional model.

“FastBridge Learning has a remarkable history of adding research-driven innovation to assessments while consistently providing exceptional attention to districts,” said Christine Willig, CEO of Illuminate Education. “They share our enthusiasm for sustainable MTSS, support for educators, open standards and interoperable solutions. We welcome FastBridge to the Illuminate family.”

Nearly one year ago, Illuminate Education transformed the assessment space and took a giant step toward its vision of supporting educators by providing “a holistic view of the child on a single pane of glass” when it merged five companies serving approximately 15 million K-12 students. The FastBridge Learning acquisition puts the finishing piece in place to realize Illuminate Education’s vision to simplify formative assessments for teachers, saving them time and guiding them through evidence-based student instruction and data-driven intervention. These capabilities empower educators in understanding the unique needs of each student, equipping them with the tools needed to serve the whole child.

“This past school year has demonstrated to us the power and benefit of using solutions from both FastBridge Learning and Illuminate Education,” said Crystal Steinmetz, Director of Curriculum and Assessment at Garden City Public Schools USD #457. “The amount of time spent collecting data has been drastically reduced which allows our teachers more time to analyze student performance, collaborate with other professionals and collectively develop a plan of support for students. The prospect of further innovations fueled by deeper integration between the companies is exciting news for Garden City Public Schools. We look forward to the opportunity to use the combined solution for years to come.”

Founded in 2015, FastBridge Learning was invented by Dr. Theodore J. Christ and Dr. Zoheb Borbora, with scholarly contributions from leading educational researchers from the University of Minnesota and colleges of education around the country. The organization, serving nearly 2 million educators and students across 45 states, including a statewide implementation in Iowa, is committed to building knowledge and improving educational assessments. Its Formative Assessment System for Teachers (FAST™) is the only K-12 solution that combines Curriculum-Based Measurement (CBM) and Computer-Adaptive Testing (CAT) for reading, math and social-emotional behavior.

“Through this collaboration with Illuminate Education, we’re able to extend the reach of our research-driven innovation model, accelerating our mission to transform the way educators assess and address the learning needs of students,” said Terri Soutor, CEO of FastBridge Learning. “Together, we’ll bring broadened capabilities to support a district’s sustainable, successful tiered instructional model, enabling greater educator and student success.”

To learn more about Illuminate Education, please visit https://www.illuminateed.com.

About Illuminate Education
Illuminate Education is the leading provider of integrated K–12 technology systems. Illuminate’s innovative tools bridge the gap between instruction, assessment, and data analytics, transforming the potential of teaching and learning. With all the data available within a single platform, teachers can assess learning and link to the right resources, while district leaders can receive a holistic view of students. Headquartered in Irvine, California, Illuminate’s team of experienced educators and technology specialists serve 15 million students across all 50 states.

About FastBridge Learning
FastBridge Learning is the brainchild of the leading educational researchers in the country, including those from the University of Minnesota — the birthplace of CBM and CAT methodologies. At FastBridge Learning, we believe teachers deserve the best tools to help students stay on track, and we strive to transform the way teachers assess and address the learning needs of students by providing one simple solution for faster results that are proven effective. To learn more, visit fastbridge.org.

SOURCE:
Illuminate Education

>View Transaction Case Study

Cherry Tree & Associates provides investment banking services through our FINRA-licensed broker dealer.

DISCLOSURES
FINRA
SIPC

Cherry Tree advises Patriot Converting, Inc. on its sale to Brixey & Meyer Capital

Cherry Tree advises Patriot Converting, Inc. on its sale to Brixey & Meyer Capital

Cherry Tree advises Patriot Converting, Inc. on its sale to Brixey & Meyer Capital

Brixey & Meyer Capital Acquires Patriot Converting

 Brixey & Meyer Capital (collectively with its affiliated entities, “BMC”) announced today it has acquired Patriot Converting (“Patriot” or the “Company”). Patriot is a provider of custom paper converting and logistical solutions for the paper packaging industry, serving customers across the Midwest. Patriot is headquartered in Elk River, Minnesota with a second converting facility in Newton, Iowa. Patriot employs 63 employees across the two locations.

“We are excited to have entered the growing packaging market via the acquisition of Patriot”, said David Brixey, Managing Director of Brixey & Meyer Capital, “Patriot has proven to be a strategic partner to their customers, which we will strive to continue and expand under our partnership.”

Brian Stilwell founded the Company in 2003 and has served as CEO since inception. Brian will transition into retirement in the coming months. Michael Stilwell will remain with the Company as Executive Vice President and co-owner with BMC and lead the business going forward.

“Over the past 16 years, Patriot has set out to improve the paper converting gaps and capacity needs and we began to solve for those gaps with significant investments in sheeting, rewinding, warehousing, and logistical solutions,” said Brian Stilwell, CEO of Patriot Converting, “optimizing the supply chain has been our continual mission and we believe the partnership with Brixey & Meyer Capital will take us to the next level.”

“The partnership will only enhance our ability to serve customers and provide our employees more opportunity as we grow,” said Michael Stilwell, Executive Vice President and co-owner.

Patriot will be exploring options for expansion into new markets and service offerings both via acquisition and organic growth.

Patriot is the second acquisition of BMC’s second fund, the BMC Growth Fund II. The BMC Growth Fund II is a $40.0 million fund launched in mid-2018 which invests in lower middle market companies generating $1.0 to $4.0 million of cash flow. Brixey & Meyer Capital plans to add as much as six additional investments over the next two years.

About Brixey & Meyer Capital:
Brixey & Meyer Capital is a lower middle market private investment firm with offices in Dayton, Cincinnati and Columbus, Ohio. For more information, visit Brixey & Meyer Capital’s website at www.brixeyandmeyercapital.com

SOURCE:
https://brixeyandmeyercapital.com

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Cherry Tree & Associates provides investment banking services through our FINRA-licensed broker dealer.

DISCLOSURES
FINRA
SIPC

Cherry Tree advises Deluxe on the Acquisition of MyCorporation

Cherry Tree advises Deluxe on the Acquisition of MyCorporation

Cherry Tree advises Deluxe on the Acquisition of MyCorporation

Transaction Description

Deluxe Corporation (NYSE: DLX) acquired MyCorporation, a provider of incorporation, compliance and other services to new businesses. Deluxe CEO Barry McCarty commented on the acquisition: “Capturing clients at business formation, we believe, will enable us to cross-sell existing products and services, such as logo design, web design, web hosting, e-mail marketing, payroll services and more.”
 

About Deluxe

Deluxe Corp.is a leader in trusted tech-enabled solutions. Nearly 4.4 million small business customers access Deluxe’s wide range of products and services, including customized checks and forms, as well as incorporation services, logo design, website development and hosting, email marketing, social media, search engine optimization and payroll services. For our approximately 4,600 financial institution customers, Deluxe offers industry-leading programs in checks, data analytics and customer acquisition and treasury management solutions, including fraud prevention and profitability. Deluxe is also a leading provider of checks and accessories sold directly to consumers.  For more information, visit  www.deluxe.com.
 

About MyCorporation

Based in Calabasas, CA, MyCorporation provides online document filing services for small business clients. The company offers business services in the areas of incorporation, LLC formation, trademark and copyright services, as well as compliance services and business maintenance services. For more information, visit www.mycorporation.com.
 

About Cherry Tree & Associates

Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis, Minnesota. Founded in 1980, it specializes in M&A transactions for both buyers and sellers of middle market companies. Additionally, it conducts private placements for attractive, entrepreneurially-managed growth companies, provides strategic advisory services to CEOs and boards of directors, and prepares fairness opinions and other valuation services. For more information, visit www.cherrytree.com.

Cherry Tree & Associates provides investment banking services through our FINRA-licensed broker dealer.

DISCLOSURES
FINRA
SIPC