Boston, MA – Capstone Partners LLC, a leading investment banking firm, is pleased to announce that it has successfully advised Penn Foster on its recapitalization by The Vistria Group. Terms of the transaction were not disclosed.
Founded in 1890, Penn Foster has been a leader in career-focused distance and hybrid learning for more than 100 years and now offers comprehensive high school, career school and college programs. Through direct student enrollments as well as through partnership programs offered with schools and businesses, more than 13 million people have taken Penn Foster-enabled courses to further their education and better position them for life success. Today, Penn Foster graduates 25,000 students yearly and enrolls more than 100,000 new students each year in programs designed to address the gap in middle skilled careers. Penn Foster combines affordable career-ready education with a flexible delivery model that makes content available and allows students to connect with their peers and instructors on an “anytime and anywhere” basis.
Penn Foster was recapitalized by The Vistria Group, a middle market private equity firm based in Chicago. The principals of The Vistria Group focus on investing in companies in the fields of education, health care and financial services.