- Accelerate will continue to be led by President and CEO Philip Galati
- Accelerate was founded in 2013
- Providence Equity Partners targets media, communications, education and technology companies across North America and Europe
Providence Equity Partners has made an investment in Houston-based Accelerate Learning, a provider of STEM curriculum for the K-12 education market. No financial terms were disclosed.
Accelerate’s exisiting backers firm Carlyle, Quad Partners, Rice University and Owl Ventures will retain minority stakes in the company.
Moving forward, Accelerate will continue to be led by President and CEO Philip Galati.
Accelerate was founded in 2013.
“Accelerate Learning’s purpose-built, engaging and easy-to-use platform has a demonstrated track record of driving better outcomes for administrators, teachers and students,” said David Phillips, senior managing director at Providence, in a statement. “With the increased emphasis on STEM in K-12 curriculum as well as the ongoing shift to digital-first providers, we believe the company is well-positioned to capitalize on numerous organic and inorganic growth opportunities in the years ahead. We are excited to partner with Phil and the Accelerate Learning team to build on the company’s considerable momentum and fuel its next phase of growth.”
SVB Securities served as exclusive financial advisor, Latham & Watkins LLP provided legal counsel, and PwC provided financial advisory services for Accelerate Learning and Carlyle. Macquarie Capital served as Providence’s financial advisor and Weil, Gotshal & Manges LLP served as legal advisor to Providence.
Providence Equity Partners targets media, communications, education and technology companies across North America and Europe. Since its founding in 1989, Providence has invested over $32 billion across more than 170 private equity portfolio companies.