Education Acquisitions in Connecticut

Broadtree Partners, a lower middle market private equity firm based in Charlotte, has acquired The CFO Project, a membership-based education and mentorship platform for accountants, CPAs and bookkeepers. The deal—supported by Salem Investment Partners—will position The CFO Project to scale its digital Certified CFO program and community of 500+ members under new CEO Dyanna Salcedo.

Affinity Esports Group, a Connecticut-based esports operator, has acquired CT Esports Academy and expanded its partnership with the Riverbrook Regional YMCA to bring esports programming to Wilton. The combined offering will include after-school programs, game nights, club teams, private coaching, and other youth-focused esports and educational services starting this fall.

Flinn Scientific, a Batavia, Illinois-based supplier of science education products and lab supplies, has acquired Educational Innovations, operator of teachersource.com. The acquisition will integrate Educational Innovations' portfolio of classroom materials, kits and online resources into Flinn Scientific's existing offerings to expand capabilities and support for K–12 science educators.

Certus, a Ridgemont-backed training and certification platform, has acquired Workforce180, an eLearning certification provider serving workforce development boards, non-profits and government agencies. The acquisition will expand Certus' workforce development offerings and integrate Workforce180's course catalog and expertise with Certus' existing brands (including Metrix Learning) to better serve unemployed and underemployed learners and the professionals who support them.

McGraw Hill has acquired Ryan Medical Education LLC, d/b/a Boards & Beyond, a provider of on-demand video libraries and assessment content for medical students and professionals. The deal expands McGraw Hill's digital capabilities and bolsters its presence in medical education, complementing its existing professional and institutional learning resources.

Iron Creek Partners led a recapitalization of Career Team, LLC and affiliate Career Edge, LLC, with participation from Career TEAM's management and Main Street Capital Corporation. The transaction, which closed in December 2021, provides significant growth capital to support the companies' workforce development services and Career Edge LMS / case management software expansion; management remains in place and retains a meaningful equity stake.

Main Street Capital Corporation provided $24.8 million of first‑lien, senior secured term debt and a minority direct equity investment to Career Team Holdings, LLC to facilitate the recapitalizations of Career TEAM, LLC and Career Edge, LLC. Main Street partnered with Iron Creek Partners and the companies' existing owner/CEO (and an unnamed co‑investor) to provide growth capital, a revolving line of credit, and working capital to support future growth initiatives.

Veritas Capital has signed a definitive agreement to acquire Finalsite, a Glastonbury, Connecticut–based leader in school websites and digital communications, from Bridge Growth Partners. Financial terms were not disclosed; the transaction is expected to close in the fourth quarter of 2021 and is intended to scale Finalsite's education technology platform and accelerate growth.

Renovus Capital Partners, an education- and human-capital-focused private equity firm, acquired a controlling interest in Continuing Education Alliance, LLC and Practicing Clinicians Exchange (PCE). The deal makes PCE the fifth platform company in Renovus Capital Partners II and positions the businesses for organic growth and strategic acquisitions to expand continuing medical education for nurse practitioners and physician assistants.

Excelligence Learning Corporation, backed by Brentwood Associates, has acquired Really Good Stuff, a multi-channel marketer of K-8 classroom products headquartered in Connecticut. The deal expands Excelligence's product portfolio from pre-K into the broader K-8 market and is expected to generate revenue synergies by leveraging Excelligence's distribution, fulfillment and sales capabilities.