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Bryant & Stratton College, Inc.

Transaction Summary

McColl Partners, LLC acted as financial advisor to Bryant & Stratton College, Inc. ("Bryant & Stratton" or the "College") in its management recapitalization with Parthenon Capital, LLC ("Parthenon"). The recapitalization will enable the management team of Bryant & Stratton to partner with Parthenon and execute on the College's strategic plan.

The Department of Education projects that between 2004 and 2014, student enrollments at proprietary, postsecondary institutions will grow at a rate nearly six times faster than the projected growth rate for enrollments at all postsecondary institutions. As a result of this growth and the strong cash flow dynamics exhibited by many institutions, financial sponsors and strategic acquirors have targeted the proprietary, postsecondary sector for investment.

About Bryant & Stratton College, Inc.

Bryant & Stratton is a preeminent provider of career focused, outcomes-based, proprietary postsecondary education, serving approximately 7,000 full tuition equivalent students through a network of 15 campuses located throughout New York, Ohio, Virginia, and Wisconsin.  Founded in 1854, Bryant & Stratton offers Associate and Bachelor degrees through 17 programs and is regionally accredited by the Commission on Higher Education of the Middle States Association of Colleges and Schools.  The College also operates a well developed online segment and a Professional Skills Center.

About Parthenon Capital, LLC

Parthenon Capital is a private equity group with over $1.5 billion of capital under management and offices in Boston and San Francisco.  The firm provides capital and strategic resources to growing middle-market companies for acquisitions, internal growth strategies, and shareholder liquidity.  The firm invests in a wide variety of industries with a particular expertise in business and financial services, health care, distribution/logistics, and IP-driven manufacturing, products, and services.

About McColl Partners, LLC

McColl Partners is an independent investment banking firm specializing in the needs of management and owners of middle-market companies.  With significant experience working with private equity groups, entrepreneurs, family-owned businesses, public companies, financial institutions, and divisions of large companies, the firm is dedicated to offering strategic advice and assistance to its clients regarding mergers and acquisitions and private capital raising assignments.

For more information about our Business Services Group, please contact Eric Andreozzi at (704) 333-0525.  More information about McColl Partners can be found at www.mccollpartners.com.

"McColl Partners demonstrated enormous dedication to achieving an outcome that exceeded our shareholders' objectives. The McColl team was unwavering in its commitment to design, and subsequently execute, a process that worked well for our shareholders, our employees, our students, and the regulatory bodies that govern Bryant & Stratton. We appreciated their knowledge of the private equity community and the tenacity and sound advice they provided throughout the process."

Bryant Prentice, III

Chairman
Bryant & Stratton College, Inc.

"Bryant & Stratton is one of the oldest and most respected postsecondary schools in the country. We were excited to have the opportunity to help the College’s shareholder base achieve significant liquidity. Over the last three years, the College has grown new enrollments approximately 16% per year, while increasing its program offerings, online presence, and profitability. We believe that Parthenon Capital embraces the mission and shares the vision of Bryant & Stratton, and we are excited that Bryant Prentice and the College’s management team will continue to be significant shareholders going forward."

Phil Colaco

Managing Director
McColl Partners, LLC

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