Recap for EduK Group

EduK Group, a portfolio company of Leeds Equity Partners, has completed a recapitalization that includes the sale of a minority equity stake and a refinancing of debt. Leeds will continue to be majority shareholder, and says the deal returns “multiples” on its original cash investment.

PRESS RELEASE

Leeds Equity Partners, LLC, the New York-based private equity firm focused on the education, training and business services industries, announced today that its portfolio company, EduK Group, has completed a recapitalization involving both the sale of a minority equity stake in the company and a refinancing of its debt. The recapitalization returns multiples of the Leeds Equity Partners IV, L.P. investment in the company in cash, with Leeds Equity Partners continuing to own a majority of the company.

EduK Group is uniquely focused on Spanish and English postsecondary education. EduK is the largest for-profit provider of postsecondary education in Puerto Rico and is continuing to build its presence in key Hispanic markets within the U.S. At present, EduK provides education at 29 locations. Headquartered in San Juan, Puerto Rico, EduK employs approximately 2,000 faculty and staff and has average enrollment exceeding 20,000 students.

Jeffrey T. Leeds, founder of Leeds Equity said, “EduK continues to improve and expand its educational offerings with new campuses and programs and has begun offering certain programs through an online platform. We are proud of our contribution to the lives of students and their families and the communities in which they live and work. The company’s managers, professors and other employees do an extraordinary job every day, for which we are grateful.”

EduK provides education through four educational systems, three of which are located in Puerto Rico and one of which is located in Florida. All are accredited by U.S. agencies.

Instituto de Banca y Comercio

IBC (www.ibanca.net) offers diplomas and associate’s degrees at 20 locations across a variety of fields, including cosmetology, healthcare, business, information technology, culinary and industrial trades. IBC is the largest career college in Puerto Rico with over 10,500 students. Programs are typically twelve months in duration. The United States Department of Education has certified IBC as an eligible institution to participate in Title IV programs pursuant to the Federal Higher Education Act of 1965, as amended. IBC is accredited by the Accrediting Council for Independent Colleges and Schools (ACICS).

National College of Business and Technology

NCBT (www.nationalcollegepr.edu) offers primarily associate’s and bachelor’s degrees at four locations across a variety of fields, including healthcare, business, information technology and education. NCBT has over 5,500 students. Programs are typically 18 to 36 months. The United States Department of Education has certified NCBT as an eligible institution to participate in Title IV programs pursuant to the Federal Higher Education Act of 1965, as amended. NCBT is accredited by the Accrediting Council for Independent Colleges and Schools (ACICS).

Ponce Paramedical College

POPAC (www.popac.edu/popacweb) offers diplomas and associate’s degrees at two locations primarily in the field of allied health. POPAC has over 3,000 students. Programs are typically 12 to 24 months. The United States Department of Education has certified POPAC as an eligible institution to participate in Title IV programs pursuant to the Federal Higher Education Act of 1965, as amended. POPAC is accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC).

Florida Technical College

FTC (www.flatech.edu) offers diplomas and associate’s degrees at three locations across a variety of fields, including healthcare, business, information technology, drafting and design, and legal studies. FTC has over 1,000 students. Programs are typically 12 to 24 months. The United States Department of Education has certified FTC as an eligible institution to participate in Title IV programs pursuant to the Federal Higher Education Act of 1965, as amended. FTC is accredited by the Accrediting Council for Independent Colleges and Schools (ACICS).

About EduK Group

EduK is the largest for-profit provider of postsecondary education in Puerto Rico and is building a presence in key Hispanic markets within the U.S. At present, EduK provides education at 29 locations. Headquartered in San Juan, Puerto Rico, EduK employs approximately 2,000 faculty and staff and has average enrollment exceeding 20,000 students.

EduK’s education institutions offer a broad range of academic programs concentrated in healthcare, business, information technology, culinary, cosmetology, industrial trades and education, culminating in the award of associate’s and bachelor’s degrees as well as diplomas. EduK was founded in 1975 and has demonstrated high historical placement rates for its graduates. For more information on EduK Group, please visit www.edukgroup.com.

About Leeds Equity Partners

Leeds Equity Partners, LLC is a New York-based private equity firm which manages the largest private equity fund in the United States solely focused on investments in the education, training and business services industries. Leeds Equity was founded in 1993 by Jeffrey T. Leeds and Robert A. Bernstein and has eight current portfolio companies, including: Campus Management, Education Management Corporation, EduK Group, eInstruction Corporation, Ex Libris Group, RealPage, Sagus International and SeatonCorp. For more information on Leeds Equity Partners, please visit www.leedsequity.com.