New York, New York – January 17, 2008 – Campus Management Corp. announced today that it has reached a definitive agreement to be acquired by Leeds Equity Partners, LLC, the New York-based private equity firm. Terms of the transaction were not disclosed.
Headquartered in Boca Raton, Florida, Campus Management provides administrative software solutions to the higher education market. The Company’s One Campus Ecosystem platform enables rapid delivery of an integrated administrative and academic system, benefiting organizations throughout higher education—ranging from career and online colleges to public and private institutions. The Company’s customers offer the full spectrum of academic programs, including 2-year, 4-year, and graduate degrees, and continuing education programs.
Campus Management’s customers use the Company’s administrative software to manage 1,100 campuses worldwide, package an estimated $3.3 billion in financial aid and serve the needs of 600,000 students. Campus Management’s technological leadership has made it the provider of choice to 70 percent of the largest career and online colleges in the United States, as well as public and private institutions such as Baker University, LeTourneau University and University of Alabama-College of Continuing Studies.
David Meek, the founder and current CEO of Campus Management said, “Over the years, we have established Campus Management as the leader in student-centered systems for higher education. We are thrilled to be partnering with Leeds Equity, the most resourceful investor in our sector, as we seek to extend Campus Management’s market leadership position.”
Mr. Meek will continue as an advisor to the Company following a transition to new CEO, Timothy Loomer. Mr. Loomer is the former CEO of Scantron Corporation, a leading provider of enterprise-wide assessment software in the education market.
Mr. Loomer who has 20-years technology and education industry experience said, “I’m delighted to join the Campus Management team at such an exciting time. Campus Management has earned tremendous customer loyalty and delivered a visionary platform that redefines what higher education should expect from providers of Learning Management Systems and ERP software. The Company is well-positioned to maintain its dominance in the proprietary postsecondary school market and continue to expand its presence among traditional institutions.”
Morgan Joseph & Co. Inc. provided investment banking services and Edwards Angell Palmer & Dodge PLC provided legal counsel to Campus Management. Ares Capital has committed to provide debt financing for the transaction and Goodwin Procter LLP served as legal counsel to Leeds Equity.
For more information about Campus Management, please visit the Company’s website at www.campusmanagement.com.
About Leeds Equity Partners, LLC
Leeds Equity Partners, LLC is a New York-based private equity firm that manages the largest private equity fund in the United States solely focused on investments in the education, training and information and business services industries. For more information on Leeds Equity Partners, LLC, visit www.leedsequity.com.
About Campus Management Corp.
More than 1,100 college and university campuses worldwide rely on Campus Management for efficient, scalable, and flexible administrative and academic solutions to enhance institutional performance. Campus Management’s One Campus Ecosystem platform provides higher education a fully integrated, centralized administrative and e-learning solution that unifies and simplifies management and reporting for traditional and non-traditional postsecondary education.
The Company’s flagship product, CampusVue™, is an enterprise solution built to improve student services and streamline operational excellence. This unique solution delivers configurable software, integrated CRM and dynamic executive reporting tools. The Company’s recent offering, CampusLearning, is enterprise-level services and support for Moodle™, an open source course management system designed by educators—and the most widely used learning system of its kind.
The Company was ranked Best In Class in Student Information Systems in IMS Global Learning Consortium’s 2007 independent survey; won Microsoft’s 2005 Public Sector award for innovation in Higher Education; and, was named Microsoft’s Global ERP Solutions Developer of the Year in 2003. For more information, visit www.campusmanagement.com.
Campus Management Corp. and CampusVue are trademarks of Campus Management Corp., registered in the U.S., other countries or both. Moodle is a trademark of The Moodle Trust. Campus Management is not a Moodle partner; visit www.moodle.com for more information.