EducationDynamics has raised $80 million from WhiteHorse Capital Management. The company raised capital to finance the acquisition of key assets of Thruline Marketing from Oaktree Capital Management as well as to refinance its existing debt. In addition, the company raised $12.5 million from Encina Business Credit in the form of a revolving credit facility. EducationDynamics is a portfolio company of Prudential Private Capital and Muirlands Capital. FocalPoint Securities served as the exclusive investment bank to the company.
The company provides inquiry generation services through its prospect delivery division as well as marketing, student retention, and market research services through its enrollment management services division. The company acquired Thruline Marketing’s agency-of-record business, which provides paid-digital marketing, traditional marketing, and SEO management services for more than 20 higher education institutions. In addition, EducationDynamics acquired a portion of Thruline Marketing’s inquiry generation business, most notably its industry-leading call center operations, including its call centers in Lenexa, KS and Tampa, FL.
Bruce Douglas, CEO of EducationDynamics, said, “EducationDynamics has long been a leader in the higher education industry, through the breadth and depth of its marketing services. Our new, powerful combination gives us an even wider array of marketing channels and innovative, transparent solutions to utilize in identifying prospective students for our school partners, thus enabling us to be an even more valuable partner to the many higher education institutions we serve. The addition of the broad base of Thruline Marketing’s agency of record marketing capabilities, including its traditional marketing and SEO management expertise, combined with EducationDynamics’ digital marketing, market research, and enrollment management contact center services, will enable EducationDynamics to be a more expansive marketing services player in the higher education industry.”
Douglas said, “The FocalPoint team was extremely professional. Their process identified an attractive financing option that met our stated closing timeline and helped us negotiate a structure that provides the resources to grow the company.”
Stephen Szejner, CFA, managing director at Prudential, said, “The FocalPoint team pushed hard to get this deal done. They managed every stage of the process, and we are pleased with the outcome.”
Managing Director Thomas Mills, member of FocalPoint’s Capital Markets leadership team, said, “This deal is another win for our Capital Markets and Sponsor Coverage practices. In a short window, we delivered a solution that satisfies our client’s and its financial sponsor’s objectives.”