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  1. 1. T R A N S A C T I O N M A N A G E M E N T A N D E X E C U T I V E R E C R U I T I N G F O R P R I V AT E C A R E E R C O L L E G E S D A V I D S H E F R I N & A S S O C I A T E S
  2. 2. In today’s red-hot career college market, for-profit education companies are trading at historic highs and earnings regularly outpace expectations. The strong investment forecast for this industry has made the post-secondary education market an important investment opportunity for private equity firms. When selecting your partners in this high-growth investment marketplace, you need a firm with experience, proven leadership and a real understanding of the current marketplace. DAVID SHEFRIN & ASSOCIATES has a track record which is unparalleled in the industry.
  3. 3. DAVID SHEFRIN & ASSOCIATES (DS&A) is the country’s leading team of professionals specializing exclusively in the purchase and sale of private career colleges and the recruitment of senior management personnel in the post-secondary education sector. After years of owning and operating private career colleges, David Shefrin founded his practice over two decades ago to assist in the successful sale or purchase of career colleges. He has since assembled the finest team of professionals in the industry. Each highly experienced professional on the DS&A staff brings to the table extensive knowledge of the industry and years of building successful relationships. In fact, DS&A has successfully executed more career college transactions than any other company in the business. Because the career college industry is the only sector in which DS&A specializes, our company has an unparalleled day-to- day understanding and awareness of the changes, opportunities and challenges faced in this competitive, fast-paced marketplace. Whether you represent a single school with three hundred students, or a multi-campus network with thousands enrolled, David Shefrin & Associates is uniquely prepared to assist with your valuation, brokerage and executive staffing needs. DS&A goal-centered approach has lead to successful long-term relationships within the most extensive network in post-secondary education. Our unparalleled team of professionals works tirelessly within the industry’s most successful business model to ensure your success and satisfaction. David Shefrin & Associates holds the industry’s highest reputation for their attention to detail and discretion, both when assisting in the development of valuation models and when creating and fulfilling unique staffing profiles. More than any firm in the industry, DS&A understands the many complex financial and personnel issues facing this rapidly growing industry. [ DS&A ] EXPERTS IN TRANSACTION MANAGEMENT & EXECUTIVE RECRUITMENT Post-secondary education companies have experienced remarkable success in recent years. ITT EDUCATIONAL SERVICES posted 2008 revenues of over $1 billion. STRAYER EDUCATION INC. is publicly traded on the NASDAQ at over $200/share. David Shefrin & Associates is poised to be your partner in the next success story.
  4. 4. Economic indicators are right for developing investments in the higher education marketplace. Increasing demands for career professionals in allied health, business management, technology and other fields have resulted in skyrocketing enrollment at private career colleges. As part of a well managed portfolio, these investments provide remarkable stability in an unsure marketplace. David Shefrin & Associates is one of the leading firms specializing in the post-secondary education market. Because of this specialization, DS&A is uniquely qualified to assist existing ownership – as well as private equity firms – to create fair and unbiased valuation models given the current market trends. DS&A provides strong leadership in bringing private equity firms into the career college sector with exceptional revenue success. Whether you operate a single campus, a successful online college, or a conglomerate of campuses across the country, DS&A professionals can provide hands-on management of your transaction from valuation through packaging, and can bring unique sources of capital into the equation. For over thirty years, these consummate professionals have guided career college management as they seek to accurately time their entry into the marketplace. DS&A knows not only the private career college playing field, but also has strong scouting knowledge of all of its players. For each transaction, DS&A assembles a professional team uniquely selected to meet the needs of your situation. Because we have our finger on the pulse of the market, we can efficiently get your message, and your opportunity, to the right target market, rather than shotgunning information to thousands of unqualified leads. Our strong knowledge of the U.S. Department of Education, federal and state regulations and the various accreditation agencies, allows us to ensure your transaction is handled with discretion, confidence and excellence. DS&A focuses on the specifics of your transaction, thus providing more efficient entry into the marketplace. If you are considering putting your school on the market, there is no better time than the present. DS&A clients have experienced remarkable success with efficient transactions that can yield generous revenue for the seller and an exceptional long-term earnings potential for the buyer. These buyers are currently enamored with the higher education market and DS&A has a varied portfolio of private equity clients seeking to make investments in education, particularly for schools with regional and national accreditation. Growth of earnings and enrollments in private career colleges makes these investments a prime focus for private equity. Institutional investors and PE firms seek out the professionals at DS&A for their knowledge of valuations within this changing industry. DS&A professionals can help investors assess the EBITDA/revenue projections for a particular property, as well as evaluate the importance of the school’s regional or national accreditation, curriculum and certifications offered. DS&A works with more career colleges than anyone. Their unmatched team of professionals understands the impact of scalability on an investor’s existing marketing, advertising and administrative costs. [BROKERAGE ] SPECIALIZING IN THE POST-SECONDARY EDUCATION SECTOR
  5. 5. DAVID SHEFRIN & ASSOCIATES has gained an unparalleled level of experience, and understands more about the private career college sector than any other firm in the industry. Selecting senior management for your school or investment is a critical decision. Selecting your recruiting team is just as important. You need professionals with discretion, who will expertly survey the marketplace without limiting your choices, but you also require a partner with a distinct market advantage— real-time, current knowledge of where the untapped talent lies.
  6. 6. RETAINED SEARCH Discretion and professionalism are key factors in any search for a new CEO, Vice President or Chair. Retained search offers the most effective means of acquiring new executive talent without disrupting current business operations. DS&A professionals will meet with your search committee to determine, and more clearly enumerate, those factors that are most important to you in selecting an appropriate candidate. During our pre-search study, we help your search committee to use the specific history, culture, strengths and challenges faced by your institution to assist in defining the qualifications of the ideal candidate. That profile is critical as your DS&A consultant team evaluates all potential candidates and brings only the finest matches to your search committee for consideration. Our search process includes extensive background checks, ensuring that compensation negotiations go smoothly and transitioning the candidate seam- lessly from their current engagement into your team. In fact, we continue to assess the transition and success of the new placement for a full year following their employment. When private equity firms began invest- ment in the post-secondary education market, one of the greatest challenges faced was creating the right executive team to support them in developing their investment. The professionals at David Shefrin & Associates work with new and prospective owners to provide a “turn-key” staffing solution from Executive Directors and Departmental Chairs to Campus President. DS&A works extensively and exclusively within the private career college market. We have the connections to reach top candidates that cannot be reached through other means. Starting your team with top-talent is critical to the long-term success of your organization. CONTINGENT SEARCH When selecting your senior management team, from a Director up to high-level Corporate Officers, our recruiting professionals have more inside knowledge of the private career college industry than any other firm. Our recruiters can reach top candidates that are often unavail- able through any other method. In a contingent search, our success depends entirely on your success— we only get paid after helping you to locate and hire the right candidate. David Shefrin & Associates is committed to creating strong working relationships in the contingent search process. DS&A recruiters work side by side with your selection committee to create a position profile which clearly defines the roles and skill sets desired in a new acquisition. The DS&A team then performs an exhaustive search of all available and potential candidates, including discrete professional outreach to candidates not yet available. Only the most qualified candidates are then presented to your search committee. Your DS&A search professionals will continue to monitor and overview the process until your new hire becomes a part of your permanent staff. [RECRUITMENT] SKILLED PROFESIONALS FINDING TOP INDUSTRY TALENT
  7. 7. NATIONAL HISPANIC UNIVERSITY(NHU) 600 students — East San Jose, CA: PurchasedbyLaureateEducation.DS&Aintroducedtheopportunitytothebuyers. College is regionally accredited by WASC. DIGITAL ANIMATION & VISUAL EFFECTS (DAVE) SCHOOL 100 students — Orlando, FL: Purchased by Instituto de Banca y Comercio which is a subsidiary of EduK/Leeds Equity. Offers a one-year, intensive program in digital animation to include full motion and 3-D animation. VALLEY CAREER COLLEGE 300 students — El Cajon, CA: Purchased by Newbridge College. DS&A advised the seller. School is accredited by ACCET and features programs in Allied Health and Information Technology. NORTHCENTRAL UNIVERSITY 6,900 students — Prescott, AZ: Purchased by Rockbridge Growth Equity. DS&A represented the seller. College is regionally accredited by NCU-Higher Learning Commission, exclusively an online college with degree programs up to the PHD level. AMERICARESCHOOLOFNURSING 250students—FernPark&St.Petersburg,FL: Purchased by Baran Institute of Technology. DS&A represented the sellers. School is accredited by ABHES and features programs in Allied Health and Practical Nursing. INTELLITEC MEDICAL INSTITUTE 300 students — Colorado Springs, CO: Purchased by NB Education. DS&A represented sellers. School accredited by ACCSCT, offers Certificates/Associates Degrees in Allied Health. NORTHWESTERN COLLEGE 200 students — Sacramento, CA: Purchased by Alta Education, LLC. DS&A represented seller in this investment. School is accredited by ACCSCT, offers Diplomas and Associates Degrees in Massage Therapy. TRI-STATE BUSINESS INSTITUTE 750 students — Erie, PA: Investment by Education Affiliates of Baltimore. DS&A represented seller. School is accredited byACICS and offers Diplomas, Certificates and Associate Degrees in Information Technology, Medical, Legal, Business and Cosmetology. ICTCOLLEGE(renamedLACollegeInternational)200students—LosAngeles,CA: Purchased by Prime II Management. DS&A represented seller. College is accredited by ACICS, offers Diplomas, Associates and BA Degrees in Medical and Information Technology. GRAND CANYON UNIVERSITY 4,000 students — Phoenix, AZ: Purchased by SignificantVentures,LLC.DS&Arepresentedthebuyer/investor. Regionallyaccred- ited by NCA-Higher Learning Commission. Programs in Nursing and Education. HELMA INSTITUTE OF MASSAGE THERAPY 100 students — Saddle Brook, NJ: Purchased by EPIC Partners of New York. DS&A represented seller. Accredited by ACCSCT, Helma has served the NY metro area for many years through its campus in New Jersey. INSTITUTE OF TECHNOLOGY 1,700 students — Northern & Central CA: Purchased byBrightStarEducation Group (Arlington Capital). DS&A represented the seller. Accredited by ACCSCT, courses offered in the Business, Culinary, Technical and Medical fields. HAWAII BUSINESS COLLEGE 325 students — 4 locations in Honolulu, HI: Purchased by private investor. DS&A represented seller. School is accredited by ACICS, offers Associate Degrees in Business and Healthcare. COMPUTER EDUCATION INSTITUTE (renamed Maric) 1,800 students — Lake Forest, CA: Purchased byKaplan HigherEducation. DS&A represented seller. School has 10 locations and is accredited by ACCET & ACICS. Associate Degrees offered in Information Technology, Business and Allied Health. WESTERN SCHOOL OF HEALTH & BUSINESS CAREERS 450 students — Pittsburgh PA: Purchased by Career Education Corporation, two locations. DS&A represented the seller. School accredited by ACCSCT & ABHES. Program- matically accredited in the various Allied Health courses. Associate Degrees offered in Business, Medical, Paralegal and Massage Therapy. HARRIS SCHOOL OF BUSINESS 100 students — Cherry Hill, NJ: Purchased by Branford Hall Career Institute, now Premier. DS&A represented seller. The school is accredited by ACICS, diplomas in Business, Medical. ROCKFORD BUSINESS COLLEGE 370 students — Rockford, IL: Purchased by American Higher Education Development Corp. School is accredited by ACICS, offering Associate Degrees in Business, Information Technology and Allied Health. NATIONAL HOLISTIC INSTITUTE 550 students — Emeryville, CA: Purchased by Private Investor. DS&A represented the seller. School is accredited by ACCET, Diplomas offered in Massage Therapy. COLLEGE OF OCEANEERING 500 students — Wilmington, California (Renamed National Polytechnic College of Science) Purchased by National University, buyer has converted the college into a non-profit. DS&A represented the seller. School is regionally accredited by WASC. Associate Degrees offered in Diver Training. DAVIDSHEFRIN&ASSOCIATESCOMPLETEDTRANSACTIONS
  8. 8. SALTER SCHOOL 350 students — Worcester, MA: Purchased by Branford Hall Career Institute. DS&A represented seller. School is accredited by ACICS, diplomas offered in Business and Information Technology. TECHNOLOGY EDUCATION COLLEGE 375 students — Columbus, OH: Purchased by Quest/Kaplan. DS&A represented seller. School is accredited by ACCSCT, offering Associate Degrees in Allied Health, Information Technology and Business. INSTITUTE OF CAREER EDUCATION 200 students — West Palm Beach, FL: Purchased by Summit Education. DS&A represented seller. School is accredited byACICS, Associate Degrees in Business and Computers. SEACOAST CAREER SCHOOLS 125 students — Wells, MA: Purchased by Branford Hall Career Institute. DS&A represented seller. School is accredited by ACCET, offering diplomas in Business. COMPUTER-ED BUSINESS INSTITUTE 350 students — 3 locations in MA, 2 in RI: Purchased by Lincoln Education Systems. DS&A represented seller. Accredited by ACICS, courses offered in Business, Medical and Information Technology. SUBURBAN TECHNICAL SCHOOL 150 students — Hempstead, NY: Purchased by Branford Hall Career Institute, now Premier. DS&A represented seller. Accred- ited by ACCSCT and ACICS offering certificate programs in Digital Computing Technology and Medical Assisting. DOVER BUSINESS COLLEGE 350 students — Paramus, NJ: Two campuses purchased by Berkeley College, DS&A represented seller. College accredited by ACICS, offering certificate programs in Business, Medical, Computers, and Electronics. COMPUTER TRAINING ACADEMY 500 students — Pleasanton, CA: Purchased by Corinthian Colleges, DS&A represented seller. College accredited by ACCET, offering certificate programs in Telecommunications and Information Technology related courses. FLORIDA CAREER INSTITUTE 200 students — Lakeland FL: Purchased by The Marco Group, DS&A represented seller. Accredited by ACCET, offering certificate programs in Computers, Business & Allied Health. INVESTMENT BY WEISS, PECK & GREER 1,500 students: A New York based Investment Management Firm, invested in a career college accredited by ACCSCT, offering degrees in information technology. Proceeds to be used for expanding distance-learning division. DS&A represented the investor. GLENDALE CAREER COLLEGE 1500 students — Glendale & San Diego, CA; Las Vegas, NV: Purchased by Landmark Education, DS&A represented seller. Accredited by ACCET, offering diplomas in Allied Health. AZ AUTOMOTIVE INSTITUTE 500 students — Phoenix, AZ: Purchased by ATI, DS&A represented seller, Harcourt General. College accredited by ACCSCT. Offering degree programs in Automotive Technology. CERTIFIED CAREERS INSTITUTE 700 students — Salt Lake City, Ogden UT: Purchased by Landmark Education, DS&A represented buyer. Accredited by ACCSCT, offering self-paced degree courses in IT. AMERICAN CAREER COLLEGE 200 students — Los Angeles, CA: Purchased by American Business College, DS&A represented the seller. College accredited by ACICS. Offering diplomas in Computers and Allied Health. HURON UNIVERSITY 800 students — Huron, Sioux Falls, SD: Purchased by Whitman Education, DS&A represented the seller. Regionally accredited by NCA-Higher Learning Commission, degrees in Business & Computers. DAVIDSHEFRIN&ASSOCIATESCOMPLETEDTRANSACTIONS
  9. 9. SENIOR MANAGEMENT POSITIONS VP OF EDUCATION Professional Business College Corporate Director of Financial Aid Vista College VP of Human Resources Lincoln Technical Corporate VP of Financial Aid Berkeley College VP Academic Affairs Argosy University VP/Chief Academic Officer Heald Colleges Corporate Director of Compliance & Accreditation Universal Technical Institute COO (Regional VP) Denver School of Nursing Director of Licensing & Accreditation Universal Technical Institute Corporate VP Distance Learning (online) Argosy University Corporate Director of Admissions & Marketing Florida Career College MANAGEMENT POSITIONS Corporate Director of Career Services Eaglegate College Dean of Curriculum & Instruction Education Affiliates Director American Career Institute Director of Compliance & Licensing Drake College of Business Nursing Program Director US Education Corp/Apollo Director Institute of Allied Medical Professions Physical Therapy Program Director Brookline College Campus President Argosy University Executive Director Education Affiliates Dean of Business Northcentral University Corporate Director of Operations (online) Strayer VP Sales/Admissions Full Sail/LA Film School Regional Director of Operations Vatterott Campus President Prospect Education Director of Admissions Academy of Healthcare Professions Regional Director of Education Education Affiliates Director Lincoln Technical IT Program Chair CEC/Colorado Technical University Director of Admissions York Technical Institute DAVIDSHEFRIN&ASSOCIATESRECRUITINGPLACEMENTS
  10. 10. 14301 NORTH 87TH STREET SUITE 215 SCOTTSDALE ARIZONA 85260 480-556-0631 WWW.DSHEFRIN.COM T R A N S A C T I O N M A N A G E M E N T | E X E C U T I V E R E C R U I T I N G