M&A Deal Summary

MidOcean Partners Acquires Pragmatic Institute

On July 11, 2022, private equity firm MidOcean Partners acquired education company Pragmatic Institute from Renovus Capital and Petra Capital Partners

Acquisition Highlights
  • This is MidOcean Partners’ 2nd transaction in the Education sector.
  • This is MidOcean Partners’ 49th transaction in the United States.
  • This is MidOcean Partners’ 1st transaction in Arizona.

M&A Deal Summary
Date 2022-07-11
Target Pragmatic Institute
Sector Education
Buyer(s) MidOcean Partners
Sellers(s) Renovus Capital
Petra Capital Partners
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)
DLA Piper (Legal)

Target

Pragmatic Institute

Phoenix, Arizona, United States
Pragmatic Institute is an operator of a corporate training company focused on serving product management and marketing professionals. Pragmatic Institute’s product management framework and world-class instructors are recognized as best-in-class by leading technology companies throughout the world. Pragmatic Institute was founded in 1993 and is based in Phoenix, Arizona.

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Buyer(S) 1

Buyer

MidOcean Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MidOcean Partners is a private equity firm focused on acquiring controlling interests in middle-market companies throughout North America. The Firm has a preference for consumer and business services sectors including automotive, food/beverage, retail, consumer products, information services, infrastructure services, training and more. MidOcean seeks opportunities valued between $150 and $750 million where it can commit $75 to $300 million. In addition to investing equity, MidOcean also looks to provide flexible credit solutions as well. MidOcean Partners was formed in 2003 and is based in New York, New York.

DEAL STATS #
Overall 54 of 59
Sector (Education) 2 of 3
Type (Secondary Buyout) 22 of 24
State (Arizona) 1 of 1
Country (United States) 49 of 54
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-22 Cloyes

Fort Smith, Arkansas, United States

Cloyes is a designer, developer, manufacturer, and distributor of timing drive systems and components for the automotive aftermarket. Its products are mission-critical components for engine performance and function used in high-performance and replacement applications. Cloyes is based in Fort Smith, Arkansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-08 Nutrabolt

Austin, Texas, United States

Nutrabolt produces a line of sports nutrition products under the Cellucor, Neon Sport and Royal Sport brands that have a focus on innovative performance powders and supplements across a wide range of categories, including pre-workout, protein and post-workout recovery. Nutrabolt was founded in 2002 and is based in Austin, Texas.

Sell -

Seller(S) 2

SELLER

Renovus Capital

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
PE ASSETS 1.5B USD
Size Large
Type Sector Focused
DESCRIPTION

Renovus Capital is a private equity firm focused on investing in small to mid-sized education companies. Specific areas of interest include for-profit colleges and schools, training companies, content providers, and technology and services businesses to education providers. Renovus looks for companies with 'strong growth prospects', proven business models and EBITDA of at least $3 million. Renovus Capital was formed in 2010 and is based in Wayne, Pennsylvania.

DEAL STATS #
Overall 11 of 14
Sector (Education) 6 of 7
Type (Secondary Buyout) 5 of 6
State (Arizona) 1 of 1
Country (United States) 10 of 13
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-06 Curtis Learning

Philadelphia, Pennsylvania, United States

Curtis Learning is a scientific education and training provider to the pharmaceutical and biotech industry. Curtis Learning designs and develops customized programs to educate and train sales teams, medical science liaisons, clinical nurse educators, patient services professionals, and pre-commercial teams on the science behind the world's most complex medical treatments across all phases of the product launch continuum, including pre-approval preparation, market introduction, and growth and label expansion. Curtis Learning was founded in 2009 and is based in Philadelphia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-29 Linkage

Burlington, Massachusetts, United States

Linkage offers a variety of leadership training programs for senior and high potential executives of large companies, covering such areas as organizational development, innovation, team assessment and women in leadership. Linkage was founded in 1988 and is based in Burlington, Massachusetts.

Sell -
SELLER

Petra Capital Partners

Nashville, Tennessee, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Petra Capital Partners is a private investment firm that invests in US-based, high-growth businesses operating in the business services, healthcare services, media/publishing, telecom, IT, and information services sectors. Target companies are generally cash-flow positive with revenues in excess of $10 million and growth rates above 20%. Petra can commit up to $20 million per transaction. The Firm typically invests in subordinated debentures with warrants to purchase equity securities. Petra Capital Partners is licensed as a SBIC. The Firm was formed in 1996 and is based in Nashville, Tennessee.

DEAL STATS #
Overall 28 of 30
Sector (Education) 1 of 1
Type (Secondary Buyout) 7 of 8
State (Arizona) 3 of 3
Country (United States) 28 of 30
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Acute Behavioral Health

Nashville, Tennessee, United States

Acute Behavioral Health is a operator of non-hospital inpatient psychiatric treatment facilities providing behavioral healthcare services to adolescents. Acute Behavioral Health was founded in 2021 and is based in Nashville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-06 Shipley Associates

Kaysville, Utah, United States

Shipley Associates provides organizations and individuals with business development consulting, and training services focused on winning business in highly complex and competitive environments. With an unrivaled worldwide network of consultants and industry thought-leaders, it supports major business development projects from strategy development, process improvement, web-based and classroom training, sales enablement, capture planning, proposal writing, and management of over 1,100 proposal efforts per year. Shipley Associates was founded in 1972 and is based in Kaysville, Utah.

Buy -
Mergr

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Company

Legal