New Horizons Worldwide, an IT training company, today announced that it has entered into an agreement under which it will be acquired by NWHW Holdings, a newly formed entity backed by Camden Partners. Total enterprise value of the transaction is approximately $56 million. Camden Partners is a current shareholder of New Horizons Worldwide. The transaction is currently expected to close in the fall of 2012.
Earle Pratt, New Horizons’ President and Chief Executive Officer, and other members of the senior management team will continue in their roles with the company after the completion of the transaction.
With over 300 centers in 70 countries, New Horizons Worldwide is the world’s largest IT training company. New Horizons offers a range of technology, applications, and business skills training from basic application and desktop productivity tools to complex and integrated business systems. New Horizons is certified as a Microsoft Partner with a Gold Learning competency, Cisco Partner for Learning Solutions, CompTIA Authorized Partner, and VMware Authorized Training Center. The company is based in Conshohocken, PA (www.newhorizons.com).
“New Horizons has greatly benefited from the support of Camden Partners since its initial investment in 2005. We are excited that Camden Partners and its investment group are strengthening and deepening this support to help us ensure that New Horizons continues to be the leading global IT training company,” said Mr. Pratt.
Camden Partners invests in lower to middle market companies in the targeted sectors of education, healthcare, and technology-enabled business services. The firm was founded in 1995 and is based in Baltimore, MD ((www.camdenpartners.com).
“New Horizons has been an innovator in blended learning combining the benefits of flexible distance learning with the world’s largest network of IT training centers,” said David Warnock, Chairman of Camden Partners. “Camden Partners is especially excited to join with our new investors to help provide New Horizons the best possible support for its future growth.”
Signal Hill is acting as the exclusive financial advisor to New Horizons and has provided a fairness opinion to the Board of Directors of New Horizons in connection with the transaction. Avondale Partners is acting as financial advisor to Camden Partners.
