Gauge Capital has made an investment in eDynamic Learning, a provider of online education courses.
eDynamic Learning is a provider of online career and elective courses serving the virtual, blended, and brick & mortar US middle and high school market. The company offers over 70 courses segmented within 16 career clusters ranging from Forensic Science to Gothic Literature. eDynamic was founded in 2008 and is based in Kelowna, BC (www.edynamiclearning.com).
“This is an exciting time as we partner with Gauge Capital to drive the next chapter of success for our company. This relationship promotes expanded product offerings, increased market share, and accelerated growth. We are excited to begin the relationship with Gauge, a company with experienced professionals, a proven track record, and an extensive network within the education industry,” said Kevin Viau, CEO and Founder of eDynamic.
“We are excited to partner with an industry leader and support the company’s mission of providing students access to a diverse set of career and elective courses,” said Tom McKelvey, Co-Founder and Managing Partner at Gauge Capital. “eDynamic has become an industry leader through developing courses that are engaging, relevant, and high quality. Since we were first introduced, we have been impressed with Kevin and the company that he and the rest of the eDynamic team have built. Kevin is a fantastic operator and we are confident that together we will be able to realize our shared vision for what eDynamic can become.”
As part of the investment, Tom McKelvey, Drew Johnson and James Jackson from Gauge Capital have joined the company’s Board of Directors. Kevin Viau will continue to serve as the company’s CEO and as a member of the Board of Directors.
Financing for the transaction was provided by Fort Worth, TX-based Crestline Investors (www.crestlineinvestors.com).
Gauge Capital invests from $10 million to $40 million in North American-based companies that have $5 million to $30 million of EBITDA. Typical transaction types include buy-outs, recapitalizations, divestitures, privatizations, consolidations, and growth capital investments. Sectors of interest include healthcare services, business services, consumer and food. The firm will consider both majority and minority investments. Gauge Capital is based near Dallas in Southlake, TX (www.gaugecapital.com).
In March 2017, Gauge Capital held a final closing of Gauge Capital II LP at the fund’s hard cap of $500 million. The firm’s inaugural fund, Gauge Fund LP, closed in October 2014 at its hard cap with $250 million of capital commitments.
© 2017 Private Equity Professional | May 18, 2017
