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Renovus Capital Partners Successfully
Exits Investment in South College of Tennessee







Founded in January 2010, Renovus Capital Partners is a $185 million, education-focused private equity fund based in Wynnewood, PA, a suburb of Philadelphia. Renovus invests in small and mid-sized businesses within the education and training sectors, including both educational institutions and companies that provide these institutions with technology, content and services. The Fund is particularly interested in growth-oriented businesses, and the Renovus team actively partners with management to build its portfolio companies through acquisitions, new strategic initiatives and operational improvements. The Renovus team has a combined 50+ years of experience investing in the education and training sectors and the founding partners have been working together since 2005. Renovus is a licensed SBIC.
 
 
 
 
Brad Whitman
Brad.whitman@renovuscapital.com
646.660.4040
Atif Gilani
Atif.gilani@renovuscapital.com
917.340.2173
Jesse Serventi
Jesse.serventi@renovuscapital.com
484.416.0856
Fred Hill
Fred.hill@renovuscapital.com
973.493.0868
Bill Landman
William.landman@renovuscapital.com
610.896.3000

 



 
July 24, 2015, Wynnewood, PA - Renovus Capital Partners (“Renovus” or the “Fund”) announced today that it had sold its minority stake in South College of Tennessee (“South College” or the “school”).  Renovus is an education-focused private equity firm based outside of Philadelphia, PA. Under the transaction, Renovus sold its preferred equity position in South College to the school’s owner, Steve South.  The transaction generated a net 48% IRR to Renovus’ limited partners.

South College is based in Knoxville, Tennessee and offers a wide range of programs in the health professions, business, legal studies, and education fields.  These programs range from a BS in Nursing to an MHS in Physician Assistant to a Doctor of Pharmacy.  Renovus invested in South College in November 2012 as the college had launched its School of Pharmacy and was continuing pursuit of full accreditation from ACPE.  At the time of our investment, South College had spent the prior couple of years building out a much larger learning site and hiring the faculty and administrative staff for the pharmacy program.  With these new endeavors, the institution took on the Renovus investment.  During this period, Atif Gilani and Brad Whitman from Renovus joined South College’s board.  During the last two years the institution has gained full accreditation for the Doctor of Pharmacy program and launched a Doctor of Physical Therapy program.  South College approached Renovus this year about re-purchasing the fund’s investment in the institution.  The purchase closed on June 30, 2015. 
 
“Renovus proved to be an excellent partner over the past 2.5 years” noted Steve South, South College’s President and owner. “Their experience in the education sector was instrumental in both closing the original investment and in helping the school grow and prosper.”

“We are proud to be a part of South College’s success,” added Atif Gilani, a Renovus founding partner. “The school’s health professions programs have produced outstanding student outcomes.  The growth of the healthcare industry has created shortages of both pharmacists and physician assistants, and graduates of these programs have excellent job opportunities.”

DLA Piper advised Renovus on the transaction while Cooley, LLP advised South College. 

Renovus Capital Partners Portfolio
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Atomic Learning trains teachers and students on how to use a wide range of education-related software applications through an online platform with more than 50,000 individual tutorials.
Dolinka Group, LLC is a provider of consulting services to K-12 schools with a focus on school facility planning and funding.   
EDIC College is a career college offering associate’s degrees and certificates in a variety of health-related fields at three campuses in Caguas, Puerto Rico.
EMS is a medical simulation solutions provider to medical and nursing schools and hospitals. The Company designs, installs, and supports the technology platform that records and manages the activities occurring within medical simulation centers.
Hillsboro Aero Academy is a provider of ab initio pilot training to domestic and international students.  The Company offers a variety of training programs for both fixed wing and helicopter pilots and has approximately 450 students across its three campuses in Oregon.
Linkage offers a variety of leadership training programs for senior and high potential executives of large companies, covering such areas as organizational development, innovation, team assessment and women in leadership.
Phoenix East Aviation is a provider of ab initio training for U.S. and international students seeking to become commercial pilots.  The school has approximately 300 students at its single campus in Daytona Beach, Florida.
Prime Technology Group is a provider of customized software solutions and mission critical IT services to insurance, healthcare and other companies that provide web-enabled services. 





 

 
Versifit Technologies is a leading provider of end-to-end data warehousing and analytic reporting solutions to school districts throughout the United States.  Versifit is a subsidiary of Atomic Learning.
South College of Tennessee is a private sector university offering a variety of degrees in health, legal, education and business, including a Master’s level program in Physician’s Assistant and a Doctoral level Pharmacist program. (Exited)
Stratus Prep is a provider of admissions counseling and test prep services to students applying to professional, graduate and undergraduate schools.  The Company delivers these services through a network of counselors who are all graduates of top business schools, many of whom have prior experience working in admissions departments at elite institutions. 
Telemedia, Inc is a provider of technical training content and programs for large industrial companies around the world.  Delivered both online and in-person, these programs train industrial workers to maintain and operate complex machinery, observe proper safety precautions and comply with government regulations.  

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