Sverica International has acquired Career Quest Learning Centers Inc., a post-secondary education company with campuses in Lansing and Jackson, Michigan. No financial terms were disclosed.
PRESS RELEASE
Sverica International announced today that it has launched its second career college platform company Quest Education Corporation (“Quest”) by completing the acquisition of Career Quest Learning Centers, Inc. (“Career Quest”).
Career Quest is a growing company in the post-secondary education industry, with campuses in Lansing and Jackson, Michigan. Career Quest trains and prepares students for employment in administration, allied health, and IT careers.
Quest is Sverica International’s second platform investment in the post-secondary education industry. Prospect Education, a successful seven-campus career college with locations in California, Washington, and Alaska was launched by Sverica in 2003.
Gunnar Bjorklund, Managing Director at Sverica International, commented: “We are delighted to make a new investment in the career college industry. Quest is an example of Sverica’s strategy of investing in businesses with strong fundamental growth drivers and attractive unit economics. In addition, we are pleased to launch our platform with a school that has an excellent record of regulatory compliance and provides an outstanding educational product to its students. We look forward to working with management to drive continued growth through strategic and operational initiatives.”
Guy Bell, CEO of Quest, commented: “I am excited to work with Career Quest’s talented management team and staff. Career Quest has a wonderful culture that I know we will build on as we grow. I look forward to partnering with Sverica International as we grow the company into a regional leader in post-secondary education.”
Todd Brewer, Regional Vice President of Quest and former owner of Career Quest, added: “Our family welcomes this partnership with Sverica International, a firm that shares our commitment to creating the best outcomes for students. The partnership will allow us to leverage Sverica’s resources and industry experience to continually improve our organization and to seize new market opportunities.”
About Sverica International
Sverica International is a leading private equity firm with over $425 million of assets under management across three funds. The firm acquires, invests in and actively builds companies that are or could become leaders in their industries. Since 1993, Sverica has maintained a “higher touch” operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies thereby generating superior investor returns. For more information, please visit www.sverica.com.
About Career Quest
Founded in 1995, Career Quest is a Michigan career college with two campuses located in Lansing and Jackson. Career Quest is focused on preparing students for work and offers a variety of vocational programs in administration, allied health, and IT areas. Career Quest is nationally accredited and participates in federal financial aid programs. For more information, please visit www.cqlc.edu.
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