M&A Deal Summary

Avathon Capital and Monroe Capital Acquire Summit Professional Education

On May 15, 2024, private equity firm Avathon Capital and lender Monroe Capital acquired education company Summit Professional Education from Greybull Stewardship

Acquisition Highlights
  • This is Avathon Capital’s 10th and Monroe Capital’s 2nd transaction in the Education sector.
  • This is Avathon Capital’s 10th and Monroe Capital’s 110th transaction in the United States.
  • This is Avathon Capital’s 1st and Monroe Capital’s 6th transaction in Tennessee.

M&A Deal Summary
Date 2024-05-15
Target Summit Professional Education
Sector Education
Buyer(s) Avathon Capital
Monroe Capital
Sellers(s) Greybull Stewardship
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)

Target

Summit Professional Education

Franklin, Tennessee, United States
Summit Professional Education is a provider of in-person and online continuing and professional education (“CPE”) courses for physical therapists and assistants, occupational therapists and assistants, and speech language pathologists. Summit Professional Education was founded in 2004 and is based Franklin, Tennessee.

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Buyer(S) 2

Buyer

Avathon Capital

Investor Investor Investor Investor Investor

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

Avathon Capital is a private investment firm focused on majority or minority investments in mid-sized US-based companies. The Firm is a generalist investor and seeks businesses with clear growth opportunities and strong product/market fit. Avathon looks to commit $10 to $50 million per transaction. Avathon Capital is headquartered in Chicago, Illinois.

DEAL STATS #
Overall 10 of 10
Sector (Education) 10 of 10
Type (Secondary Buyout) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 10 of 10
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-31 Magical Beginnings

Middleton, Massachusetts, United States

Magical Beginnings provides high-quality, education-based programs for children ranging from infants through pre-K. Magical Beginnings was founded in 1990 and is based in Middleton, Massachusetts.

Buy -
Buyer

Monroe Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Lender
Founded 2004
PE ASSETS 14.1B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Monroe Capital is a provider of senior and junior debt and equity co-investments to middle-market companies in the US and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, asset based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital is a generalist investor and will consider companies in the healthcare, technology, media, retail, consumer sectors. Monroe Capital was formed in 2004 and is based in Chicago.

DEAL STATS #
Overall 111 of 115
Sector (Education) 2 of 2
Type (Secondary Buyout) 14 of 14
State (Tennessee) 6 of 6
Country (United States) 110 of 114
Year (2024) 8 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-09 Open Source Controls

Nashville, Tennessee, United States

Open Source Controls is a systems integration and full-service controls company dedicated to bringing cutting-edge yet functional technology advantages to building owners and operators. It partners with property owners, property managers, facilities staff, engineering firms, mechanical contractors, school districts, churches, industrial groups, and government entities to offer a broad range of customized solutions to building automation. Open Source Controls is based in Nashville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-09 Sunstates Security

Raleigh, North Carolina, United States

Sunstates Security provides security services to a diverse set of attractive end markets. The Company offers a variety of security solutions, including uniformed officers, access control, reception & concierge, monitoring and emergency response to a network of clients across the US. Sunstates Security was founded in 1998 and is based in Raleigh, North Carolina.

Buy -

Seller(S) 1

SELLER

Greybull Stewardship

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
Size Small
Type Sector Agnostic
DESCRIPTION

Greybull Stewardship is a private investment firm focused on majority or minority investments in small companies. The Firm targets profitable businesses with $500K to $5 million of pre-tax profits. Greybull does not have any sector preferences and will consider opportunities throughout the US. Greybull Stewardship was formed in 2010 and is based in Cody, Wyoming.

DEAL STATS #
Overall 7 of 8
Sector (Education) 2 of 3
Type (Secondary Buyout) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 7 of 8
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-27 Pogo Pass

American Fork, Utah, United States

Pogo Pass is a provider of individual and family memberships to access a variety of local entertainment and educational options, including zoos, water parks, amusement parks, museums, sporting events, and family entertainment centers. Pogo Pass was founded in 2012 and is based in American Fork, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-07 Real Estate Institute

Niles, Illinois, United States

Real Estate Institute provides continuing education for real estate, mortgage, insurance, and legal professionals. The company has provided high-quality professional education to more than 195,000 alumni nationwide. Real Estate Institute was founded in 1992 and is based in Niles, Illinois.

Sell -
Mergr

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