BrightStar Education Group
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BRIGHTSTAR EDUCATION GROUP, INC. ANNOUNCES TRANSACTION AND EXPANSION INTO REDDING, CA
Washington, DC – April 6, 2009 – BrightStar Education Group, Inc. (“BrightStar”), a for-profit, post-secondary education school group operating in California as Institute of Technology (“IOT”), and a portfolio company of Arlington Capital Partners, has entered into a transaction with Lake College, LLC (“Lake College”) located in Redding, California. Lake College is an accredited, post-secondary education institution providing degree and diploma programs in nursing, medical assisting, and business administration.
The transaction with Lake College, through a teach-out agreement with the U.S. Department of Education, adds a fourth campus in California to IOT’s footprint and a well-regarded nursing program to IOT’s educational offerings. Additionally, the transaction will provide IOT with the ability to expand its educational offerings at its Clovis, Modesto and Roseville campuses by offering its students the option to take additional medical courses.
Jim Haga, CEO of BrightStar, said, “We have big plans to expand the program offerings in Redding and provide our students with the best training available so that they can succeed in the workplace.” IOT’s new Redding campus expects to offer the following programs: Professional Medical Assisting, Medical Office Administration, Pharmacy Technician, Medical Billing and Coding Specialist, Licensed Vocational Nursing, Human Resource Administrator, Criminology and Emergency Response Management, and Heating Ventilation and Air Conditioning Technician.
“We see the potential for growth at the new Redding campus given the strong management team in place at IOT and the opportunity to expand and improve the educational offering to students,” said Jeffrey Freed of Arlington Capital Partners. John Bates of Arlington Capital Partners added, “BrightStar is fully prepared to support the Redding campus with additional faculty, facility renovations, and expanded course offerings, which will improve the educational experience for students.”
About BrightStar Education Group, Inc.:
BrightStar Education Group, Inc. (“BrightStar”), through its Institute of Technology (“IOT”) subsidiary, is pursuing a consolidation of for-profit, post-secondary education schools, with a focus in medical, business, technical, culinary and other vocational curricula. BrightStar’s strategy includes organic growth through additional curricula and new campuses, the cross-utilization of curricula among separate schools, and the implementation of initiatives to standardize, replicate, and leverage successful internal processes. BrightStar’s strategy will also include strategic investments and acquisitions. BrightStar currently provides post-secondary educational services to approximately 3,000 students.
Visit BrightStar at www.brightstareducation.com.
Contact:
Jim Haga
President & CEO
BrightStar Education Group, Inc.
8601 Turnpike Drive
Suite 100
Westminster, CO 80031
(303) 429-1714
(303) 429-5762 (fax)
About Arlington Capital Partners:
Arlington Capital Partners (www.arlingtoncap.com) is a Washington, DC-based private equity fund with over $1 billion of committed capital focused on middle market buyout investment opportunities in growth industries including: Federal government services, education, healthcare services, business services and outsourcing, media, and aerospace/defense. The firm’s professionals have a unique combination of operating and private equity experience that enables Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company’s position as leading competitors in their field.
Contact:
Jeffrey Freed, John Bates or Ed Weklar
Arlington Capital Partners
5425 Wisconsin Avenue
Suite 200
Chevy Chase, MD 20815
(202) 337-7500
(202) 337-7525 (fax)
SOURCE: Arlington Capital Partners
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