Business Capital provided $4 million in financing to support Asteria Education‘s acquisition of test-prep publisher ECS Learning Systems.
Asteria Education, owned by a private equity investor with more than 20 years in the education tech space, procured ECS based on its success in developing proprietary, integrated materials of state-specific examinations for the K-12 market. Products include a diverse portfolio of test-prep materials and software for reading, writing, mathematics, science and critical thinking skills, as well as hundreds of activity books, workbooks and practice tests both in written and digital format.
“Business Capital was incredibly helpful with our recent acquisition,” said David Cumberbatch, president and CEO of ECS Learning Systems. “I turned to them after the initial financing structure failed and, within a matter of weeks, they were able to coordinate a rigorous process resulting in successful financing. Overall, their knowledge and domain expertise shaved months off the process and, most likely, saved the deal.”
The K-12 sector is the largest in the education space and Business Capital’s client and PE investor in this transaction is actively pursuing additional opportunities in said space.
