This transaction is Summer Street’s third platform investment in the post-secondary career school industry. Though terms of the transaction were not disclosed, Summer Street manages in excess of $550 million of capital to make equity investments that typically range from $15 to $30 million. Summer Street said it is investing to further promote MTI’s mission to provide industry-driven career education for students, leading to enhanced employment opportunities.
Brian Huff will continue to serve as the school’s president and CEO. “MTI and Summer Street share an innate commitment to the success of students and compliance. Our mutual values, along with their industry experience and collaborative approach made Summer Street the right fit. Our partnership will help MTI expand our program offerings at existing campuses, and establish new greenfield campuses across the Midwest.”
“MTI’s team is dedicated to enriching the lives of their students by providing career-driven education. This outstanding commitment has earned the school its extraordinary success and reputation,” said Michael McQueeney, Summer Street managing partner and co-lead of the firm’s Post-Secondary Career School Investment Team. “We look forward to building upon a quality educational institution that empowers students, giving them the knowledge and skills to get a better job and build a career.”
For more information, visit www.midwesttech.edu.
Publication date: 11/19/2012