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RETURN TO NEWS RELEASES
February 6, 2002
HURON CAPITAL PARTNERS ANNOUNCES ITS FIFTH INVESTMENT IN THE PAST 16 MONTHS WITH THE ACQUISITION OF DELTA EDUCATIONAL SYSTEMS, INC.
Detroit, MI – February 6, 2002 // PRNewswire // Huron Capital Partners LLC has recapitalized Delta Educational Systems, Inc., in partnership with Delta management, including founder and CEO Joseph A. Kennedy. The transaction closed in December. Headquartered in Virginia Beach, VA, Delta operates for-profit postsecondary vocational schools serving the large and growing segment of the population seeking to acquire career-oriented education. Delta currently has five campuses in the eastern US offering degree and diploma programs primarily in the areas of information technology, healthcare and business, the largest and fastest growing markets for skilled workers.
Brian Demkowicz, Managing Partner at Huron, stated “An experienced, cohesive management team, impressive growth and exceptional industry fundamentals make Delta a good fit with our investment strategy.” John Higgins, a Principal at Huron, added “We look forward to supporting management as they pursue a defined growth strategy that includes acquiring additional schools, opening branch campuses and adding new programs. Delta is already showing good momentum in these areas.”
According to Delta CEO Joe Kennedy, “This is a major step forward for Delta as it really opens to the door to growth. We are excited to have Huron as our partner. They know our industry well and really believe in our vision. They bring the resources that enable us to accelerate our growth strategy.”
Delta represents Huron’s fifth acquisition in the last 16 months. Brian Demkowicz points out that “Despite the challenging financing markets and recessionary environment, we continue to be very active on the acquisition front. We have been able to find fundamentally sound companies at reasonable values and believe it is an excellent time to invest. We are in the process of closing another three transactions, and anticipate 2002 to be another busy year at Huron.” Other companies acquired by Huron include Prism Enterprises, Inc., Lyco Enterprises (through Prism), RiversideWorld, Inc. and Stylecraft Lamps, Inc.
Based in Detroit, Huron invests in buyouts and recapitalizations of private entrepreneurial companies with $10 million to $100 million in revenues. The key to the firm’s strategy is partnering with strong management teams to acquire niche manufacturing, service, and distribution companies with well- defined growth strategies. Huron has $72 million of committed equity capital under management.
For further information, please contact Brian Demkowicz or John Higgins at Huron Capital Partners (313-496-1050) or visit their website at www.huroncapital.com.