M&A Deal Summary

Nelnet Acquires Great Lakes Educational Loan Services

On February 7, 2018, Nelnet acquired financial services company Great Lakes Educational Loan Services from Great Lakes Higher Education for 150M USD

Acquisition Highlights
  • This is Nelnet’s 1st transaction in the Financial Services sector.
  • This is Nelnet’s largest (disclosed) transaction.
  • This is Nelnet’s 5th transaction in the United States.
  • This is Nelnet’s 1st transaction in Wisconsin.

M&A Deal Summary
Date 2018-02-07
Target Great Lakes Educational Loan Services
Sector Financial Services
Buyer(s) Nelnet
Sellers(s) Great Lakes Higher Education
Deal Type Divestiture
Deal Value 150M USD

Target

Great Lakes Educational Loan Services

Madison, Wisconsin, United States
website
Great Lakes Educational Loan Services, Inc. is a provider of loan processing services for students. Great Lakes Educational Loan Services is based in Madison, Wisconsin.

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Buyer(S) 1

Buyer

Nelnet

Lincoln, Nebraska, United States

website

Category Company
Founded 1978
Sector Financial Services
Employees8,237
Revenue 1.4B USD (2022)
DESCRIPTION

Nelnet focuses on delivering education-related products and services and student loan asset management. Nelnet earns interest income on a portfolio of federally insured student loans. The Company also makes investments to further diversify from its core education-related businesses. Nelnet was founded in 1978 and is based in Lincoln, Nebraska.

DEAL STATS #
Overall 5 of 7
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (Wisconsin) 1 of 1
Country (United States) 5 of 7
Year (2018) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-06 Peterson s

Highlands Ranch, Colorado, United States

Peterson’s is a diversified data, learning, and publishing company focused on post-secondary education. The company provides a suite of online test preparation services, higher education research and books to consumers, enterprise, government and libraries. Peterson’s mission of helping students prepare to succeed began in 1966. Peterson’s is based in Denver, Colorado, and employs a team of 60 educators, data scientists, and technologists. Included in the Peterson's family of products are EssayEdge and Dean Vaughn Books.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-26 Catholic Faith Technologies

Overland Park, Kansas, United States

Catholic Faith Technologies is an online learning and formation platform company that offers its learning management technology and services to faith-based organizations as Catholic Faith Technologies and to businesses under the CD2 Learning brand. Catholic Faith Technologies was founded in 2008 and is based in Overland Park, Kansas.

Buy -

Seller(S) 1

SELLER

Great Lakes Higher Education

Madison, Wisconsin, United States

website

Category Company
Founded 1967
Sector Financial Services
DESCRIPTION

Great Lakes Higher Education Corp. is an own and operator as student loan guarantor. Great Lakes Higher Education was founded in 1967 and is based in Madison, Wisconsin.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (Wisconsin) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
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