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US Education Corporation (“USEC”) is one of the leading providers of Allied Health and Information Technology postsecondary education in the United States. The Company operates 16 campuses with over 7,000 students in six Western U.S. states. U.S. Education is uniquely positioned as the largest for-profit provider of high-quality postsecondary allied health training in the Western United States.
Our Role
In mid-1999, CGP identified for-profit education as an attractive industry for investment due to its strong growth and high return on capital. With few investment opportunities with critical mass, CGP’s flexible investment approach allowed it to pursue a consolidation strategy. CGP leveraged its strong brand and relationships to recruit a management team of industry veterans and an experienced co-investor to form U.S. Education. In conjunction with Management, CGP Partners and Board members David Chandler and Robert Healy helped USEC develop a focused business strategy, resulting in four highly strategic acquisitions that have positioned USEC as the largest provider of Allied Health training in the Western U.S.
Results
CGP, its co-investor and Management have committed over $70 million of equity to USEC to support four acquisitions. USEC has integrated its prior acquisitions to form a platform for continued growth through new campuses and acquisitions. USEC remains privately owned, but CGP believes that the company is well positioned for an initial public offering. USEC generated over $90 million in revenue in fiscal 2004, an increase of over 20%. CGP is optimistic regarding USEC’s growth prospects, and has committed to providing USEC with additional capital for acquisitions and internal growth.
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