Capstone Headwaters advises StratoZen on its sale to ConnectWise
StratoZen, Inc. bridges the gap between traditional in-house cybersecurity and legacy outsourced MSSP (managed security service provider) options.
Capstone Headwaters advised Blueprint Test Preparation (“Blueprint” or the “Company”) on its sale to New Harbor Capital (“New Harbor”). Terms of the transaction were not disclosed.
Blueprint is the premier LSAT test preparation provider in the US, offering in-person and online courses, private tutoring, self-study books and application consulting services. Based in Los Angeles, Blueprint offers live classroom instruction in 29 locations across eight states throughout the country in addition to its robust scalable online course offering. Blueprint leverages a unique edutainment-oriented content creation capability and the latest adaptive learning technology to support individualized study plans. As part of the deal process, Blueprint also acquired Chicago-based Next Step Test Preparation, a provider of test preparation services for the MCAT and other graduate admissions exams.
Justin Marquardt, Vice President at New Harbor Capital said
“These companies were a perfect fit with our investment thesis. We plan to leverage their unique capabilities in content production, delivery, and adaptive learning as we expand our offerings in law and health, as well as horizontally into additional test verticals,”
Tom Formolo, Partner at New Harbor Capital added
“The combined capabilities and complementary strengths of these two companies will create a powerful platform for growth in an industry that’s begging for innovation.”
Blueprint Co-Founder and Company Chairman and Chief Creative Officer Trent Teti commented
“We’re ecstatic New Harbor Capital brought us together with Next Step. This platform will enable us to heavily invest in our leading adaptive learning software and video production capabilities to create a family of groundbreaking products.“
Blueprint Co-Founder and Company CEO Matt Riley said
“We are thrilled to partner with New Harbor and Next Step to form the elite provider of high-stakes test prep courses and tutoring. The two companies share a common mission and together we will be able to deliver even better student experiences and results. This is the first step in our plan to build the number one test prep company in the world.
The process of taking your company to market can be extremely intimidating, but the Capstone Headwaters team were incredible partners through the whole process. We always felt like they had our best interests in mind - they weren’t just trying to make a deal. With detailed knowledge of our industry and the structure of similar deals, they helped us locate the perfect private equity sponsor. We would never have closed this deal without their guidance.”
Jacob Voorhees, Co-Head of Investment Banking at Capstone Headwaters, commented
“The Blueprint team made this process both entertaining and seamless. Moreover, the state of the art LMS, data analytics, adaptive learning engine and technological and creative prowess of the Company is unmatched. With the help of New Harbor, the Company is a disruptive force that will be putting the industry titans on notice.”
The ELS facility, which is comprised of multiple debt instruments, was unconditionally and irrevocably guaranteed by the Autonomous Region of Azores and underwritten by multiple international banks
OSE Immunotherapeutics is an integrated biotechnology company specializing in developing therapies to control the immune system for immuno-oncology and autoimmune diseases.