M&A Deal Summary

Wasena Capital Management and Millpond Equity Partners Acquire Paxton/Patterson

On April 1, 2022, private equity firms Wasena Capital Management and Millpond Equity Partners acquired education company Paxton/Patterson

Acquisition Highlights
  • This is Wasena Capital Management’s 2nd and Millpond Equity Partners’ 2nd transaction in the Education sector.
  • This is Wasena Capital Management’s 5th and Millpond Equity Partners’ 8th transaction in the United States.
  • This is Wasena Capital Management’s 1st and Millpond Equity Partners’ 1st transaction in Illinois.

M&A Deal Summary
Date 2022-04-01
Target Paxton/Patterson
Sector Education
Buyer(s) Wasena Capital Management
Millpond Equity Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Prairie Capital Advisors Inc. (Financial)

Target

Paxton/Patterson

Alsip, Illinois, United States
Paxton/Patterson is a provider of Career and Technical Education to elementary, middle, and high schools nationwide. The Company assists educators in preparing students for technical careers in engineering, computer science, health science, advanced manufacturing, green construction, and other sectors. School districts rely on Paxton to deliver a turnkey, custom program including digital curriculum, lab design, equipment, educator training, and ongoing educator support. Paxton/Patterson was founded in 1963 and is based in Alsip, Illinois.

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Buyer(S) 2

Buyer

Wasena Capital Management

Investor

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

Wasena Capital Management is a private equity firm focused on lower middle-market company investments. Wasena will consider companies across the US and Canada with revenues of $7.5 to $100 million and at least $2.5 million of EBITDA. Target sectors include industrial manufacturing, value added distribution, healthcare services and business services with a particular interest in packaging, flow control, aerospace, consumer products, franchising and niche tech-enabled IT healthcare services. Wasena has a particular interest in partnering with management teams in businesses going through a transition. Wasena Capital Management is based in Vero Beach, Florida.

DEAL STATS #
Overall 5 of 5
Sector (Education) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Illinois) 1 of 1
Country (United States) 5 of 5
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-12 Quick Med Claims

Pittsburgh, Pennsylvania, United States

Quick Med Claims is a provider of outsourced RCM solutions covering the entire claim cycle with unique, dual expertise in air and ground emergency transport services. QMC’s services and solutions platform maximizes reimbursement, cash collection, and timing, and ensures compliance for its diverse EMS-focused customer base. Quick Med Claims was founded in 1991 and is based in Pittsburgh, Pennsylvania.

Sell -
Buyer

Millpond Equity Partners

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
Size Small
Type Sector Agnostic
DESCRIPTION

Millpond Equity Partners is a private equity firm focused on investing in companies operating in the education, training, or outsourced services sectors. The Firm will consider opportunities throughout the US and Canada and seeks businesses with up to $15 million in EBITDA. Specific areas of interest include education providers, assessment/testing services, career prep, compliance and risk management, human resources outsourcing, quality assurance, marketing services, and data collection providers. Millpond Equity Partners was formed in 2014 and is based in Boca Raton, Florida.

DEAL STATS #
Overall 8 of 9
Sector (Education) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 3 of 3
State (Illinois) 1 of 1
Country (United States) 8 of 9
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-02 Financial Aid Services

Atlanta, Georgia, United States

Financial Aid Services is a provider of compliance consulting, interim staffing, and outsourced services to financial aid and bursar’s offices for not-for-profit colleges and universities in the United States. Financial Aid Services was founded in 1991 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-24 PDS

Lake Worth, Florida, United States

PDS is a provider of business consulting, data analytics, and intelligence solutions to independent pharmacies in North America. PDS was founded in 1998 and is based in Lake Worth, Florida.

Sell -
Mergr

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