M&A Deal Summary

Vistria Group Acquires Penn Foster Group

On December 18, 2014, private equity firm Vistria Group acquired education company Penn Foster Group from The Princeton Review

Acquisition Highlights
  • This is Vistria Group’s 1st transaction in the Education sector.
  • This is Vistria Group’s 2nd transaction in the United States.
  • This is Vistria Group’s 1st transaction in Pennsylvania.
Investment Fate
  • Penn Foster Group was sold to a consortium of financial buyers in 2018.

M&A Deal Summary

Date 2014-12-18
Target Penn Foster Group
Sector Education
Buyer(s) Vistria Group
Sellers(s) The Princeton Review
Deal Type Recapitalization
Advisor(s) Capstone Partners (Financial)

Target

Penn Foster Group

Scranton, Pennsylvania, United States
Penn Foster Group is a provider of high school diploma, workforce education, and training solutions. The business focuses on adult learners who seek forms of higher education to improve their career skills and employment status. Penn Foster Group was founded in 1890 and is based in Scranton, Pennsylvania.

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Buyer(S) 1

DESCRIPTION

The Vistria Group is a middle-market private equity firm focused on the education, healthcare, and financial services industries. Vistria was formed in 2013 and is based in Chicago, Illinois.


DEAL STATS #
Overall 2 of 30
Sector: Education M&A 1 of 5
Type: Recapitalization M&A Deals 1 of 4
State: Pennsylvania M&A 1 of 3
Country: United States M&A 2 of 30
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-01 AIS Healthcare

Dallas, Texas, United States

AIS Healthcare is a provider of targeted drug delivery (TDD), infusion care and ophthalmology solutions. From pharmacies that put patient safety first to comprehensive services that enhance the entire care experience, we go beyond the expected in everything we do. AIS Healthcare was founded in 1998 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Flores & Associates

Charlotte, North Carolina, United States

Flores & Associates is a provider of Human Resources consulting services such as compensation, benefits, and selection to a broad cross-section of small to mid-sized companies throughout the Southeast. Flores & Associates was founded in 1986 and is based in Charlotte, North Carolina.

Buy -

Seller(S) 1

SELLER

The Princeton Review

Framingham, Massachusetts, United States

Category Company
Sector Education
DESCRIPTION

The Princeton Review is a proivder of test preparation and college admission services company. Every year it helps millions of college- and graduate school-bound students achieve their education and career goals through its test preparation, tutoring, and admissions services, its online resources, and its more than 150 print and digital books published by Random House LLC.


DEAL STATS #
Overall 1 of 1
Sector: Education M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Pennsylvania M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-08 Penn Foster Group

Scranton, Pennsylvania, United States

Penn Foster Group is a provider of high school diploma, workforce education, and training solutions. The business focuses on adult learners who seek forms of higher education to improve their career skills and employment status. Penn Foster Group was founded in 1890 and is based in Scranton, Pennsylvania.

Buy $170M