Summer Street Capital Partners has made an investment in Midwest Technical Institute, a private, post-secondary school. This transaction is Summer Street’s third platform investment in the post-secondary career school industry and the second investment in their third fund.
Brian Huff, founder of Midwest Technical Institute (MTI), 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,” said Mr. Huff.
Midwest Technical Institute is a private, post-secondary school providing career education in the fields of welding, HVACR, allied health and cosmetology with five campuses across Illinois and Mississippi with over 1,900 enrolled students. MTI is accredited by the Accrediting Commission of Career Schools and Colleges and is based in Springfield, IL (www.midwesttech.edu).
“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.”
Summer Street Capital Partners has approximately $500 million of committed capital focused on investing in small-market companies. Equity investments typically range from $15 million to $50 million in companies with annual revenues of less than $200 million. The investment team is complimented by a team of operating partners who are involved in assisting portfolio companies. The firm is located in Buffalo, NY (www.summerstreetcapital.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-12-12