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January 20, 2004
Huron Capital Partners Acquires Miami-Jacobs Career College
Represents 4th Acquisition During The Past 18 Months
Detroit, MI – January 20, 2004 // Huron Capital Partners LLC, a Michigan-based private equity firm, announced today that it has completed the acquisition of Miami-Jacobs Career College as an add-on to Huron’s portfolio company, Delta Education. The transaction closed in December 2003 and follows Delta’s acquisition of McCann Education Centers and The Creative Circus during the last 18 months.
Miami-Jacobs Career College, based in Dayton, Ohio, is a postsecondary vocational school offering Associate degree programs in allied health, business and information technology. The school was founded in 1860 and remains a leader in the Dayton, Ohio market.
John Higgins, a Principal at Huron, stated “We are very pleased to support Delta with its third add-on acquisition as we continue to build a leader in the postsecondary school industry. Delta now operates twelve campuses, up from five at the time of our first investment in the education sector two years ago. We remain excited about Delta’s growth outlook.” Delta CEO Joe Kennedy added, “Miami-Jacobs has a solid, long-standing reputation and excellent people. The school is consistent with our strategy of operating the leading schools in mid-tier markets. Miami-Jacobs provides a good foundation for expansion in an attractive Ohio market.”
Based in Virginia Beach, Virginia, Delta Education operates postsecondary vocational schools serving the large and growing segment of the population seeking to acquire career-oriented education. With the addition of Miami-Jacobs Career College, Delta Education now operates a large collection of campuses in the eastern U.S. offering degree and diploma programs primarily in the areas of allied health, business, information technology and advertising.
Despite the weak financial markets, Huron Capital has been on a healthy acquisition pace over the past 18 months. Huron has acquired four companies in the education and label & packaging areas and anticipates committing another $20 million in two transactions during the first quarter of 2004. Based on the success of its current fund, Huron expects to begin fundraising efforts in the coming months for The Huron Fund II, L.P., targeting $150 million to $200 million in commitments.
Huron Capital Partners is a leading investor in the lower middle-market. 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.
For Further Information, Contact:
Brian Demkowicz, Managing Partner
(313) 496-1050 | bdemkowicz@huroncapital.com
John Higgins, Principal
(313) 496-1050 | jhiggins@huroncapital.com