Summer Street Capital Partners has put an undisclosed amount of money into Midwest Technical Institute, a private, post-secondary school focused on education in the fields of welding, HVACR, allied health and cosmetology. Midwest Technical has campuses in Illinois and Mississippi, the firm said. Terms of the deal were not disclosed.
Private equity fund manager Summer Street Capital Partners ( www.summerstreetcapital.com ), announced today that it has invested in Midwest Technical Institute, a private, post-secondary school providing career education in the fields of welding, HVACR, allied health and cosmetology with five campuses across Illinois and Mississippi.
This transaction is Summer Street’s third platform investment in the post-secondary career school industry and the second investment in their third fund. Though terms of the transaction were not disclosed, Summer Street manages in excess of $550 million of capital to make equity investments that typically range from $15 to $30 million. Summer Street is deploying its capital and resources to further promote MTI’s mission to provide outstanding industry-driven career education for students, leading to enhanced employment opportunities.
Industry veteran, Brian Huff founded MTI and will continue to serve as the school’s President and CEO. “MTI and Summer Street share an innate commitment to the success of students and compliance. Our mutual values, along with their industry experience and collaborative approach made Summer Street the right fit. Our partnership will help MTI expand our program offerings at existing campuses, and establish new greenfield campuses across the Midwest.”
“MTI’s team is dedicated to enriching the lives of their students by providing career-driven education. This outstanding commitment has earned the school its extraordinary success and reputation,” commented Michael McQueeney, Summer Street Managing Partner and co-lead of the firm’s Post-Secondary Career School Investment Team. “We look forward to building upon a quality educational institution that empowers students, giving them the knowledge and skills to get a better job and build a career.”
ABOUT MIDWEST TECHNICAL INSTITUTE
Founded in 1995, Midwest Technical Institute (“MTI”) is a private, for-profit post-secondary school that offers courses in career fields including welding, HVAR, allied health and cosmetology. Based in Springfield, IL, MTI operates five campuses across Illinois and Mississippi with over 1,900 enrolled students. MTI’s small class sizes combined with extensive “hands-on” training creates a personalized education that assures graduates are well prepared for success in today’s job market. MTI is accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC). For more information, visit www.midwesttech.edu .
ABOUT SUMMER STREET CAPITAL PARTNERS LLC
Summer Street Capital Partners LLC, founded in 1999, is a Buffalo, NY-based private equity fund manager with in excess of $550 million of committed capital is focused on investing in small-market companies. The firm invests alongside talented managers, bringing capital and resources to support acquisitions and aggressive growth strategies. Summer Street’s investors include leading pension funds, insurance companies, and banking institutions. Summer Street seeks to invest $15-$30 million to support management buy-outs, family transitions, corporate divestitures, growth financings, and recapitalizations. The investment team is complemented by a team of experienced operating partners who are integrally involved in assisting portfolio companies. Visit www.summerstreetcapital.com for additional information.Get your FREE trial or subscribe now to Buyouts to find new deal opportunities, super-charge your fundraising efforts and track top managers.