M&A Deal Summary

ETS Acquires PSI

On January 26, 2024, ETS acquired business services company PSI from Waud Capital Partners

Acquisition Highlights
  • This is ETS’s 1st transaction in the Business Services sector.
  • This is ETS’s 4th transaction in the United States.
  • This is ETS’s 1st transaction in Kansas.

M&A Deal Summary
Date 2024-01-26
Target PSI
Sector Business Services
Buyer(s) ETS
Sellers(s) Waud Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Macquarie Capital (Financial)
Kirkland & Ellis (Legal)

Target

PSI

Olathe, Kansas, United States
PSI focuses on delivering frictionless and fair test-taker experiences through valid test content, authorized test centers, secure remote testing with online proctoring, multi-modal test delivery, testing windows, or continuous testing on demand. It partners with certification test sponsors covering the breadth of professional specialisms from healthcare, architecture, finance, and IT to numerous highly specialized sectors. PSI is based in Olathe, Kansas.

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Buyer(S) 1

Buyer

ETS

Princeton, New Jersey, United States
Category Company
Founded 1947
Sector Education
DESCRIPTION

ETS serves learners, educators and government agencies by providing measurement solutions, and conducting research, analysis and policy studies. ETS develops, administers and scores millions of tests annually, including the TOEFL and TOEIC tests, the GRE tests and The Praxis Series. ETS is based in Princeton, New Jersey.

DEAL STATS #
Overall 4 of 4
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (Kansas) 1 of 1
Country (United States) 4 of 4
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-27 Questar Assessment

Brewster, New York, United States

Questar Assessment is a K–12 assessment solutions provider focused on providing a bridge between accountability and student learning.

Buy $128M

Seller(S) 1

SELLER

Waud Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 3.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Waud Capital Partners is a private equity firm that pursues investments in mid-sized manufacturing, distribution and service companies. Waud looks for businesses with proven management, operating in well defined markets, and that demonstrate strong growth potential. The Firm typically invests $75 to $200 million. Specific areas of interest include adhesives, air/water treatment, alarm monitoring, auto components, coatings, consumer products, home healthcare services, hospitals, lighting, litigation support, medical distribution, petroleum distribution, pharmaceuticals, publishing, sealants, specialty hospitals, and tax consultants. Prospective transaction situations include buyouts, recapitalizations and industry consolidations. Waud Capital Partners was established in 1993 and is based in Chicago, Illinois.

DEAL STATS #
Overall 27 of 27
Sector (Business Services) 3 of 3
Type (Add-on Acquisition) 10 of 10
State (Kansas) 1 of 1
Country (United States) 26 of 26
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-03 Heart + Paw

Berwyn, Pennsylvania, United States

Heart + Paw is an integrated pet care company serving pets and their parents. Heart + Paw offers veterinary care, grooming, daycare, boarding, retail, and other complementary services at its centers. Heart + Paw was founded in 2018 and is based in Berwyn, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-21 Senior Helpers

Towson, Maryland, United States

Senior Helpers is a franchisor of private pay, professional home care for elderly individuals, with approximately 285 active territories across 39 states. The Company provides specialized programs that have been developed in collaboration with medical experts and offers specialized care services for individuals with Alzheimer's, dementia, and Parkinson's. Senior Helpers was formed in 2002 and is based in Towson, Maryland.

Buy -
Mergr

Product

Company

Legal