Realized Investment
ForeFront Education, Inc. is a provider of post-secondary education through multiple campuses in Pennsylvania, Florida, and California. The company was founded in 1999 by GTCR Golder Rauner and William Klettke to capitalize on opportunities in the large and highly fragmented post-secondary school industry. Through its 11 campuses, the company offers a variety of Master’s degree, Bachelor’s degree, Associate’s degree and non-degree programs in career-oriented disciplines.
With a signed letter of intent in hand to make an acquisition that would significantly increase the size of the company and expand it into the attractive southern California market, ForeFront needed near-term financing to close the transaction and a long-term partner who would be there for future acquisitions.
In May 2003, Caltius Mezzanine committed a financing structured as senior subordinated notes with common and preferred stock. An initial portion of the financing was used to help finance the acquisition of Platt College Inc., owner of three post-secondary campuses in Southern California, with the remaining commitment available as an acquisition line.
Barrington, Illinois