M&A Deal Summary

Connections Education Acquires Connections Academy

On September 18, 2011, Connections Education acquired education company Connections Academy from Sterling Partners Private Equity and Apollo Global Management for 400M USD

Acquisition Highlights
  • This is Connections Education’s 1st transaction in the Education sector.
  • This is Connections Education’s largest (disclosed) transaction.
  • This is Connections Education’s 1st transaction in the United States.
  • This is Connections Education’s 1st transaction in Maryland.

M&A Deal Summary
Date 2011-09-18
Target Connections Academy
Sector Education
Buyer(s) Connections Education
Sellers(s) Sterling Partners Private Equity
Apollo Global Management
Deal Type Add-on Acquisition
Deal Value 400M USD

Target

Connections Academy

Baltimore, Maryland, United States
Connections Academy operates 'virtual schools' under management contracts from state charter schools and school districts. This arrangement provides the structure of traditional brick-and-mortar schooling and eliminates the cost to parents. Parents or other 'Learning Coaches' assist with the day-to-day learning using the Company's proven curriculum that incorporates comprehensive daily lesson plans, textbooks from leading educational publications, and online lessons.

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Buyer(S) 1

Buyer

Connections Education

Baltimore, Maryland, United States
Category Company
Sector Education
DESCRIPTION

Connections Education® is an accredited provider of high-quality, highly accountable virtual education solutions for students in grade K–12.

DEAL STATS #
Overall 1 of 2
Sector (Education) 1 of 2
Type (Add-on Acquisition) 1 of 1
State (Maryland) 1 of 1
Country (United States) 1 of 2
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-31 Advanced Academics

Oklahoma City, Oklahoma, United States

Advanced Academics, Inc. is a distance learning company that offers accredited secondary school courses for students in grades 7 – 12 via the Internet.

Buy -

Seller(S) 2

SELLER

Sterling Partners Private Equity

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sterling Partners Private Equity is the private equity arm of asset management firm Sterling Partners. Sterling Partners Private Equityis focused on investing in small to medium-sized companies positioned for growth, either organically or through acquisitions. Sterling has a strong interest in businesses with differentiated products, defensible competitive positions, recurring revenues, and diversified customers. The Firm's target equity commitment size is $5 to $175 million. Broad sectors of interest include direct marketing, education, specialty distribution, specialty manufacturing, healthcare, technology, and business services. Sterling Partners was formed in 1983 and is based in Chicago, Illinois.

DEAL STATS #
Overall 18 of 51
Sector (Education) 4 of 7
Type (Add-on Acquisition) 13 of 34
State (Maryland) 6 of 9
Country (United States) 18 of 49
Year (2011) 3 of 4
Size (of disclosed) 4 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-13 The InfiLaw System

Naples, Florida, United States

The InfiLaw System is a consortium of independent, community based law schools. The company is establishing itself as a leader in making legal education more responsive to the realities of new career dynamics.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-02 Active Day

Baltimore, Maryland, United States

Active Day, Inc. is a provider of high-quality healthcare and social services to the elderly and disabled through its network of Active Day facilities.

Sell -
SELLER

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

DEAL STATS #
Overall 5 of 67
Sector (Education) 1 of 2
Type (Add-on Acquisition) 1 of 21
State (Maryland) 1 of 1
Country (United States) 5 of 51
Year (2011) 1 of 1
Size (of disclosed) 16 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-04 Constellium

Paris, France

Constellium develops aluminum products and solutions for a broad scope of markets and applications, including aerospace, automotive and packaging. Constellium was founded in 2010 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-16 Taminco

Allentown, Pennsylvania, United States

Taminco is a global specialty chemical company, with a clear focus on niche markets. Taminco is the world's leading producer of alkylamines & derivatives and a major producer of formic acid & derivatives, supplying diversified, global end markets. Taminco's products are used by customers in the manufacture of a diverse array of products for the agriculture, animal nutrition, water treatment, personal & home care and oil & gas end-markets, and its products provide these goods with a variety of ancillary characteristics required for optimal performance. Taminco currently operates in 23 countries with eight production facilities.

Buy €1.2B
Mergr

Product

Company

Legal