Los Angeles, California – Avante Mezzanine Partners (“Avante”) announced today that it realized a full exit from its investment in Learners Edge, LLC (“Learners Edge” or the “Company”), a leading provider of online professional development, continuing education and master’s degree programs for K-12 teachers. Avante provided senior unitranche financing and equity in support of the acquisition of Learners Edge by Stone Goff Partners in September 2013. Avante generated a 43% unlevered compounded annual rate of return over the life of its investment in Learners Edge.
“Under the leadership of its co-founding CEO Joe Cotter and his terrific team, Learners Edge has enjoyed strong organic growth and solidified its position as a leading continuing professional education provider for teachers in this country during the last three years,” said Avante Managing Partner Natasha Fox.
“Together with management, Stone Goff Partners has helped build significant value in this business, and we feel grateful to have had the opportunity to partner with them on this transaction”, said Avante Partner Ivelisse Rodriguez Simon.
The Company was recapitalized by L Squared Capital Partners in September 2016. Avante participated in the recapitalization by helping to provide a portion of debt financing and co-investing in equity alongside the sponsor.
“We believe more strongly than ever in the growth opportunities available to Learners Edge”, added Aaron DiCenzo, Avante Vice President, “We are excited to be working with L Squared Capital Partners who brings significant education industry experience and resources to the Company, and we look forward to supporting them and Learners Edge as they execute on this compelling new phase of growth”.