|Sylvan Learning Center, Sylvan Education Solutions, eSylvan and Connections Academy To Continue Operating under Existing Brands, Providing Same Services|
Educate, Inc., a new company focused exclusively on the K-12 education market, today took ownership via a management-led buy-out of the Sylvan Learning Systems, Inc. K-12 businesses, with funding from Apollo Management, L.P. These businesses, which include Sylvan Learning Center, Sylvan Education Solutions, eSylvan, Connections Academy and Schulerhilfe, will continue serving customers using their existing brand names and providing the same services. Chris Hoehn-Saric, who co-founded Sylvan Learning Systems, Inc., will be the chairman and chief executive officer of Educate, Inc.
"The students, parents and schools that use our education services won't see any change at all. We will continue supporting the educational needs of our customers with the same high quality of service for which we have become known," said Hoehn-Saric, who sees a bright future for companies that support the educational needs of children in North America and Europe.
"This is an important time for education in the K-12 space," explains Hoehn-Saric. "More families than ever before are looking for supplemental education support for their children. The No Child Left Behind Act is driving a national standard for educational excellence and increasing awareness of the role that supplemental education services can play in helping students achieve academic success. Whether students receive assistance in school, at a learning center in their community or online, more resources than ever are focused on helping them develop the skills to do better in school."
Larry Berg, a senior partner of Apollo Management, L.P., said, "The investment in Educate, Inc. exemplifies our philosophy of investing in companies with skilled management teams, highly respected products and services, strong brands and leading market share. Sylvan has an extraordinary track record of serving families. We are excited about working with the talented Educate management team as the company continues its legacy of industry innovation and leadership."
"Our new structure gives us the opportunity to focus exclusively on students in pre-kindergarten through grade 12," says Mary Foster, president of Sylvan Learning Center, the leading provider of tutoring services, serving more that 150,000 students of all ages and skill levels each year in communities across the country. "We will continue to build on our 24 year track record of serving families and helping them discover the joy of learning."
"As part of Educate, Inc., we will continue our focus on building partnerships with schools, school districts and community organizations across the country, embracing the opportunities offered to students under No Child Left Behind," said Jeffrey H. Cohen, president of Sylvan Education Solutions, the leading provider of supplemental education services in schools and urban communities. In response to the growing demand for supplemental education programs required by "No Child Left Behind," Sylvan Education Solutions has opened 122 new school- and community-based centers and enrolled more than 4,000 students in 12 school districts nationwide in the past four months.
"At eSylvan, we offer online reading and math tutoring with live teacher interaction," notes Peter Cohen, president and chief operating officer of Educate. Inc. "As part of Educate, Inc., we will be able to partner with our sister companies to provide services directly to students and to schools."
Observes Barbara Dreyer, president of Connections Academy, "Demand for high-quality, highly accountable virtual public schools is strong and growing rapidly. Parents want more choices for students. Educators are seeking new educational models to help all students succeed. And legislators are looking for innovative solutions to a wide range of policy and budgetary challenges facing local education systems. Connections Academy is already widely recognized as a national leader in virtual public education. We look forward to leveraging the resources of the entire Educate, Inc. family of K-12 businesses as we expand our presence in the market, and partner with more public school districts and charter schools."
Sylvan Learning Systems, Inc. will change its name later this year so that the Sylvan brand name will continue to remain synonymous with the best K-12 tutoring services. (Please see Sylvan Learning Systems, Inc. press release dated July 1, 2003.)
About Sylvan Learning Center
Learning feels good(TM) at Sylvan Learning Center, the leading provider of tutoring services to students of all ages and skill levels. With 24 years of experience and over 970 centers located throughout North America, Sylvan Learning Center is the largest organization of its kind in the industry. Sylvan's trained and certified teachers provide personalized instruction in reading, writing, mathematics, study skills and test-prep for college entrance and state exams. At Sylvan, students develop the skills to do better in school and the confidence to do better in everything else. Sylvan Learning Center is a division of Educate, Inc. For more information regarding the Sylvan Advantage(TM), call 800/31-SUCCESS or visit www.educate.com/info.
In Europe, over 900 learning centers are operated under the Schulerhilfe brand.
About Sylvan Education Solutions
Sylvan Education Solutions partners with schools and school districts to provide high-quality, research-based supplemental education services, including those called for through the enactment of the landmark No Child Left Behind Act. In the 2002/03 school year, Sylvan Education Solutions is providing services to more than 70,000 students in 900 urban schools across 150 districts. Sylvan Education Solutions also supports schools with specialized services and programs ranging from after-school programs to early childhood education to counseling. More information on Sylvan Education Solutions can be found at www.sylvansolutions.com, or by calling 888/7SYLVAN.
eSylvan is the leading provider of live, online academic tutoring for students in grades 3-9. eSylvan offers students a personalized, interactive program from their home computer, with certified teachers and the latest Internet technology. eSylvan's online programs deliver proven academic results. For more information on eSylvan's unique programs, visit eSylvan on the Web at www.esylvan.com.
About Connections Academy
Connections Academy is a leading provider of K-8 virtual public schools in partnership with innovative districts and states. In the 2003-2004 school year, Connections Academy expects to serve students in Colorado, Pennsylvania, Wisconsin and other states through its high-quality, high-tech, high-touch public "schools without walls." Connections Academy helps each student maximize his or her potential through Personalized Performance Learning that combines the best in virtual education with very real connections among students, family, teachers and the community. For more information, call 800/382-6010 or visit www.connectionsacademy.com.
About Apollo Management, L.P.
Apollo Management, L.P., is a private equity investment firm with offices in New York, Los Angeles and London. Since its inception in 1990, Apollo has invested more than $12 billion dollars of equity capital in more that 150 different companies in a broad range of industries.