PROVIDENCE, R.I.--(BUSINESS WIRE)--Nautic Partners, LLC ("Nautic") announced that it has partnered with management to acquire Source4Teachers ("S4T" or the "Company"). S4T, through its Source4Teachers and MissionOne divisions, is a leading provider of outsourced substitute teacher and paraprofessional managed services to K-12 schools in the eastern United States. Terms of the transaction were not disclosed.
Headquartered in Cherry Hill, NJ, S4T provides substitute teachers, paraprofessionals, and educational support staff to over 150 K-12 school districts, and is a recognized leader in the markets that it serves. By leveraging its advantages in recruiting, technology, and scale, S4T can eliminate the administrative burden of daily substitute teacher and paraprofessional staffing, training, recruiting, and oversight, while saving school districts money that can be reinvested in student educational opportunities and full time teaching staff.
S4T also provides both aspiring and experienced teachers with a meaningful path to contribute to the education of students. Most importantly, S4T ensures high fill rates of qualified staff when absences occur, improving the educational experience for the students in S4T’s partner districts.
"S4T delivers tremendous value to all stakeholders in a K-12 district," said Doug Hill, Managing Director of Nautic. "We are extremely impressed by the company’s growth over the past few years, and by the operational expertise and strong leadership of S4T’s management. We feel that this is a service that can benefit the students and faculty in many more districts, and we look forward to supporting the company’s growth in the years to come."
"In Nautic we have found the right partner for this next phase of growth at Source4Teachers," said Kevin Bush, President of S4T. "Nautic shares our team's vision of being the partner of choice for school districts to cost-effectively increase the quality of their substitute teacher and paraprofessional programs. We are optimistic about S4T’s opportunities to grow and deepen its school district partnerships, and we look forward to working with Nautic."
Prudential Capital Group provided financing for the transaction. Houlihan Lokey acted as financial advisor to the Company.
Established in 2000, Source4Teachers is a leading provider of managed services focused exclusively on education. For over 150 school district clients, the company recruits, hires, trains, places, and manages qualified substitute teachers, paraprofessionals, and educational support staff. Each day, the company fills daily and long-term vacancies across over 1000 schools, positively impacting the education of hundreds of thousands of students. For more information, see www.source4teachers.com.
About Nautic Partners, LLC
Founded in 1986, Nautic is a middle-market private equity firm that has managed over $3 billion of assets throughout its history. The firm has completed 120 transactions in partnership with management. Nautic targets equity investments of $25-$75 million, representing majority ownership in niche businesses with strong market share and growth potential, identified value enhancement opportunities and strong management teams. Areas of focus include business services, manufacturing and healthcare. For more information, please visit www.nautic.com.
The information provided herein is not an offer or sale of any security or investment product. The information is provided for the purpose of demonstrating investment capabilities to prospective portfolio companies.