Cherry Tree Advises Regent Education on its Investment from Attain Capital Partners

Cherry Tree Advises Regent Education on its Investment from Attain Capital Partners

Cherry Tree Advises Regent Education on its Investment from Attain Capital Partners

Regent Education Announces Investment from Attain Capital Partners to Accelerate Growth and Innovation

FREDERICK, Md. , June 8, 2022 /PRNewswire/ — Regent Education, the leading provider of Software as a Service (SaaS) solutions that automate and simplify the financial aid process for higher education institutions offering traditional and nontraditional enrollment models, today announced a significant growth equity investment led by Attain Capital Partners, with participation from Regent’s current lead investors Chrysalis Ventures, CNF Investments LLC, and New Markets Venture Partners. The company also announced that Greg Baroni, Founder and Managing Partner of Attain Capital Partners, will serve as Chair of the Regent Education Board of Directors.

Attain Capital Partners is a private equity firm which invests in expansion and growth-stage companies with innovative, technology-enabled solutions. A tech entrepreneur himself, Baroni helped launch a distributed learning group known as Blackboard—now part of Anthology—that became a first-mover and an industry leader. He has led a diverse portfolio of successful businesses throughout his career, including KPMG Consulting, Unisys, and more recently, Attain, LLC, selling the company’s federal business division in 2021. He also is the Founder and Chief Executive Officer of Attain Partners and Attain Sports and Entertainment.

“When it comes to financial aid software, there is none better than Regent. Their comprehensive, cloud-based solution enables institutions to improve business operations and mitigate compliance risks—all while improving the student experience, which is so essential to expanding access to an affordable post-secondary education,” said Baroni. “We look forward to collaborating with the Regent team as we grow the company and continue to simplify the most complex financial aid scenarios for our clients and the students they serve,” he continued.

“Attain Capital brings a rich understanding of higher education, and their guidance and investment provides considerable support to assisting Regent’s continued growth, scale, and financial aid product innovation,” said Jim Hermens, CEO of Regent Education. “Together, we look forward to accelerating Regent’s forward-leaning solutions for the education industry,” he said.

About Regent Education

Regent Education is the leading provider of Software as a Service (SaaS) solutions that automate and simplify the financial aid process for higher education institutions offering traditional and nontraditional enrollment models. Regent’s solutions encompass the automation of financial aid management, verification processes, student financial planning, and state financial aid applications. These solutions offer institutions an unprecedented ability to automate the financial aid process to increase efficiency, mitigate compliance risks, expand enrollment, improve the student experience, and enhance financial management and financial aid lifecycle visibility. Since its inception, Regent has packaged and delivered $5 billion in financial aid to more than 250,000 students. For more information, visit https://regenteducation.com/.

About Attain Capital Partners

Attain Capital Partners invests in growth-stage companies in the knowledge economy. We seek to partner with firms delivering high-value, technology-enabled solutions and services to businesses predominantly focused on serving the public sector markets, including education, government, healthcare, and nonprofits. Our mission is simple: Truly empower teams while building lasting partnerships that make an enduring, positive impact to improve humankind. For more information, please visit www.attain.capital

About New Markets Venture Partners

New Markets Venture Partners is a leading impact investor that accelerates growth-stage education and workforce technology companies.  The New Markets team has decades of experience supporting evidence-based, high growth companies that improve economic and social mobility by leveraging deep relationships with centers of education and workforce innovation.  New Markets prides itself on adding value to its portfolio companies before, during, and after the investment process, with the ultimate goal of improving both individual outcomes and the productivity of America’s education workforce system.  For more information, visit https://newmarketsvp.com/.

About Chrysalis Ventures

Chrysalis Ventures partners with management teams across mid-America to build businesses with enduring value through technology and active collaboration. Chrysalis Ventures manages more than $400 million and has invested in more than 70 companies during its 25-year history.  Chrysalis Ventures partners with talented management teams by providing the business intelligence, market knowledge, deep resources, technological expertise, and financial discipline that are critical to success.  Chrysalis takes a direct, straightforward approach in its work and relationships, challenging itself and its management teams to exceed expectations and deliver superior results. 

Contact
Regent Education
Diane Eves, Marketing Director
(301) 662-5592 or marketing@regenteducation.com

SOURCE Regent Education

 

Minneapolis based Cherry Tree & Associates served as the investment banking advisor to Regent Education on this transaction.

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

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SIPC

Cherry Tree Advises Aperture Education on its Sale to Riverside Insights, A Portfolio Company of Alpine Investors

Cherry Tree Advises Aperture Education on its Sale to Riverside Insights, A Portfolio Company of Alpine Investors

Aperture Education

Cherry Tree Advises Aperture Education on its Sale to Riverside Insights, A Portfolio Company of Alpine Investors

“After going through a careful selection process, we chose Cherry Tree based on their extensive experience working with edtech companies, their focus on our goals and objectives, and their appreciation for our values and commitment to all stakeholders. We were not disappointed! They provided the context and advice we needed to help us navigate many attractive options along the way, negotiated strongly and effectively on the issues that mattered most to us, and their team worked long hours to ensure our team was always prepared and that the necessary information was provided and correct.”

—Jessica Adamson, CEO, Aperture Education

INDUSTRY:
K-12 Education; Software-as-a-Service (SaaS)

DESCRIPTION:
SaaS provider of research-based social and emotional learning (SEL) assessments to K-12 schools

LOCATION:
Fort Mill, SC

TRANSACTION TYPE:
Sale to PE-Backed Strategic Buyer

Transaction Overview

In June 2022, Aperture Education, the leading provider of research-based social and emotional learning (SEL) assessments for K-12 schools, announced that it had been acquired by Riverside Insights, a leading developer of research-based assessments and analytics. With more than 65 years of combined research and SEL experience, Aperture sets the standard for research-based SEL assessment solutions as it’s DESSA assessment system (based on the CASELTM framework) provides an in-depth, comprehensive view of student social and emotional skills and is entirely strength-based. Terms of the deal were not disclosed.

The addition of Aperture’s SEL solutions to the Riverside portfolio of research-based ability and achievement assessments will help K-12 educators obtain the most valid, reliable and comprehensive view of each learner. The combined companies have a synergistic goal of enriching one billion lives globally by 2030.

“Riverside and Aperture have very similar company cultures. We share an entrepreneurial energy and have fixed our eyes on future growth,” said Jessica Adamson, CEO at Aperture Education. “With our research-roots, we believe the right insights empower educators to better serve students, and together, we believe we can more effectively reach educators to scale our impact.”

“With Riverside’s strong research tradition blended with Aperture’s SEL product expertise and vision, we are excited to continue our commitment to creating insights to understand the whole learner. Together, we believe that through our assessments, we can make a greater impact in the lives of students and educators” said Rajib Roy, CEO of Riverside Insights.

Cherry Tree’s Role:

Cherry Tree was engaged to advise Aperture Education, its board of directors and its shareholders in identifying the best partner to help the Company achieve its next phase of growth, while maximizing shareholder value. The Cherry Tree team advised Aperture in a process that included both strategic entities as well as growth-oriented investors, where its role included preparing evaluation materials, effectively communicating this compelling investment opportunity to potential investors and buyers, engaging with a wide range of qualified parties, soliciting proposals and negotiating attractive terms, and supporting the management team through the diligence process and finalizing the definitive agreements.

About Aperture Education:

Aperture Education has empowered over 6,500 schools and out-of-school time programs across North America to measure, strengthen, and support social and emotional competence in K-12 youth and educators. The Aperture System includes the DESSA suite of strength-based assessments, CASEL™-aligned intervention strategies, and robust reporting, all in one easy-to-use digital platform. This system enables education leaders to make strategic, data-based decisions about SEL within their organizations. Aperture has supported more than one million students in their social and emotional growth and continues to develop innovative solutions to bring the whole child into focus. To learn more, visit www.ApertureEd.com.

About Riverside Insights:

Riverside Insights, one of the nation’s leading and most long-standing developers of research-based assessments, is led by a powerful mission: to provide insights that help elevate potential and enrich the lives of students, clinical patients, employees, and organizations globally. For more information, visit http://www.RiversideInsights.com.

About Alpine Investors:

Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in companies in the software and services industries. Its PeopleFirst strategy includes a talent program that allows Alpine to bring leadership to situations where additional or new management is needed post-transaction. Alpine is currently investing out of its $2.25 billion eighth fund. For more information, please visit http://www.alpineinvestors.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 high quality, entrepreneurially managed growth companies, provides strategic advisory services for CEOs and boards of directors, and prepares fairness opinions and other valuation services.

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

DISCLOSURES
FINRA
SIPC

Tierney_Trox

Tierney_Trox

Tierney

Cherry Tree Advises Tierney on its Merger with Trox

INDUSTRY:
Education/Technology
DESCRIPTION:
Distributor and Integrator of Audio/Visual (A/V) and Technology Solutions
LOCATION:
St. Paul, Minnesota
TRANSACTION TYPE:
Merger with PE-Backed Strategic Buyer

Transaction Overview

In April 2021, Tierney, a leading provider of A/V and other technology solutions and services to primarily education institutions, announced it had merged with Trox, a leading provider of technology solutions to North American education institutions. The merger positions the joint organization as one of the largest education technology solutions providers in North America. Trox is a portfolio company of H.I.G. Growth Partners.

Cherry Tree’s Role

Cherry Tree was engaged to advise Tierney’s ownership group as they considered several proposals they had received from parties seeking to acquire the business. Their objectives were to select the best partner for all stakeholders, and to achieve the personal goals of the shareholders, some of whom were seeking to fully retire while others desired to continue on in management and ideally maintain some ownership. The Cherry Tree team advised the shareholders in an accelerated process that included engaging with a targeted group of qualified parties in a short time period, facilitating meetings and strategy discussions, soliciting LOI bids and negotiating terms, supporting the Company in working through the confirmatory due diligence process, and assisting with the closing of a transaction.

About Tierney

Tierney has been a leading provider of technology solutions for K-12 schools, higher education institutions, government organizations, and corporate businesses for over 40 years. With a focus on the customer, helping teachers teach, students learn and workers work, Tierney provides a line of products and services to support projects of any size from start to finish. Learn more at www.tierney.com

About Trox

For nearly 40 years, Trox has championed the use of technology to broaden access and improve learning. As North America’s leading education technology provider, the company empowers educators to confidently purchase, implement, use, and manage technology resources by using technology to address their challenges and improve the learning landscape. Trox’s expansive product portfolio, combined with its deep understanding of how technology can be used to manage, teach, and learn, makes the company a beloved partner to tens of thousands of districts across the U.S. and Canada. Providing technology that is in use by over 20 million students daily, Trox is committed to driving transformative change in education by enabling learning without limits. Learn more at www.trox.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 high quality, entrepreneurially managed growth companies, provides strategic advisory services for CEOs and boards of directors, and prepares fairness opinions and other valuation services.

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

DISCLOSURES
FINRA
SIPC

Cherry Tree Advises XPrep Learning Solutions

Cherry Tree Advises XPrep Learning Solutions

XPrep Learning Solutions

Cherry Tree Advises XPrep Learning Solutions

INDUSTRY:
Education, Technology
DESCRIPTION:
100% Digital, Subscription-Based Online Test Preparation for Professional Board Exam Solutions to Veterinary, Veterinary Technician, Optometry, and Dental Hygiene Students.

Overview:

Originally founded in 2004 by three Veterinary students, XPrep Learning Solutions serves students worldwide as a well-respected leader in the online test preparation space. The Company delivers comprehensive professional board preparation solutions to veterinary, veterinary technician, optometry, and dental hygiene students. Its owners (three practicing veterinarians and one technology executive) were balancing full-time careers outside of the XPrep business and reached the right time to explore their strategic alternatives. Specifically, XPrep ownership was seeking a partner that could lead the Company through its next stage of growth while maintaining its strong brand reputation. The Company’s market leading products and strong internal leadership made a potential strategic partnership highly attractive to multiple parties. Through a Cherry Tree-led process, XPrep was able to find a highly strategic partner in PDH Academy, a portfolio company of Eden Capital, that values its brand reputation and could support its next growth chapter.
 
“We are very excited to partner with XPrep Learning Solutions and leverage best practices to provide additional professional training to our clients,” said Mark Newcomer, CEO of PDH Academy.
 
“Partnering with PDH Academy is a great fit for XPrep. The additional resources and expertise that PDH brings to the table will be a huge benefit for our students. We will be able to provide an even higher level of product and service,” said XPrep VP of Operations Brian Jensen.
 

Cherry Tree’s Role:

Cherry Tree leveraged its education experience and network of potential strategic partners and financial partners and worked closely with the owners and management team to create a competitive sale process that resulted in a favorable outcome for shareholders, employees, and students. It was especially important to the owners that the process was focused on finding a partner that would maintain the integrity of the brand and its stellar reputation among students. Additionally, the process was swift and efficient as to not disrupt nor distract the core business operations. Cherry Tree’s advisory role included introductions and discussions with numerous potential partners in marketing the opportunity, soliciting proposals, negotiating terms, supporting due diligence, and facilitating the closing of the transaction.
 

About XPrep Learning Solutions:

XPrep Learning Solutions: XPrep Learning Solutions provides online test preparation solutions to veterinary, veterinary technician, optometry, and dental hygiene students. Thousands of professionals have relied on VetPrep, VetTechPrep, OptoPrep, and HygienistPrep to pass their professional board exams.

About PDH Academy:

PDH Academy: PDH Academy provides regulatory training and certification to professionals and companies in real estate, healthcare, and specialized trades. The mission of PDH Academy is to help professionals start, manage, and advance their careers.

About Eden Capital:

Eden Capital: Eden Capital is a sector-focused private equity firm backing leading management teams in education, tech, and business services companies.

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.

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

DISCLOSURES
FINRA
SIPC

Cherry Tree Advises Scientific Learning on their Sale to Carnegie Learning

Cherry Tree Advises Scientific Learning on their Sale to Carnegie Learning

Scientific Learning

Cherry Tree Advises Scientific Learning on their Sale to Carnegie Learning

INDUSTRY:
Education Technology
DESCRIPTION:
Provider of Online, Reading and Language Learning Software Solutions for K-12
LOCATION:
Oakland, California
TRANSACTION TYPE:
100% Sale to Strategic Buyer

Overview:

In September 2020, Scientific Learning Corporation (OTC PINK:SCIL) (“Scientific Learning”), a provider of neuroscience-based online reading and language software, announced that it had been acquired by an affiliate of Carnegie Learning, Inc. (“Carnegie Learning”), a provider of educational resources and formative assessment, in an all-cash merger transaction valued at approximately $15 million. The rationale for the combination is to strengthen the education technology portfolio of both entities and to further drive forward their joint mission of improving student learning outcomes through leading-edge technology built from and validated by rigorous research.
 
Jeff Thomas, CEO of Scientific Learning, stated, “Through our combination with Carnegie Learning, we are pleased to deliver value to our shareholders while aligning our company with a highly complementary organization that approaches cutting-edge research and technology solutions for K-12 students with a like-minded mission-driven approach.
 
Scientific Learning was advised by Cherry Tree & Associates, LLC, due to our specialization in serving education technology companies.

About Scientific Learning

Scientific Learning: Scientific Learning is a leading developer and distributor of SaaS reading instructional products that enhance the processing efficiency of the brain for struggling learners. Scientific Learning’s products have been analyzed and proven effective through numerous research studies performed by marquee institutions. The Company has developed a strong core of loyal customers in K-12 schools and clinical providers located across the globe.

About Carnegie learning

Carnegie Learning: Carnegie learning is a provider of technology enabled education and formative assessment products for middle school and high school students. Carnegie’s solutions are based on scientific research at Carnegie Mellon University and deliver math, ELA, world language, computer science, and professional learning services. 

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.

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

DISCLOSURES
FINRA
SIPC