Capstone Partners Advises International Education Finance Corporation on its Acquisition by Collegiate Funding Services, Inc.
Capstone Partners Advises International Education Finance Corporation on its Acquisition by Collegiate Funding Services, Inc.
Boston, MA (PRWEB) June 5, 2005 -- Capstone Partners LLC, a national
investment banking advisory firm, announced today that it has successfully
advised International Education Finance Corporation (“IEFC”) on its recent
acquisition by Collegiate Funding Services, Inc. (NASDAQ: CFSI). Capstone
initiated the transaction, assisted in the negotiations and acted as executive
financial advisor to IEFC.
Collegiate Funding Services (“CFS”) expects
the transaction to be immediately accretive to earnings in 2005. The terms of
the transaction were not disclosed, however, the purchase price was not
material.
“We were pleased to participate in such a meaningful
transaction in the education finance sector,” said Capstone’s vice president
Noah Brown. “IEFC has built the premier franchise in the international student
loan market, and CFS offers a strong platform for continued growth and
innovation.”
"IEFC provides CFS an entry into the rapidly growing market
for international education finance solutions and extends our campus-based
relationships," said J. Barry Morrow, chief executive officer and president of
Collegiate Funding Services. "Their network of relationships with school
financial aid officials will complement our school channel and their product
offerings and overall operations are an excellent fit with our existing
business. With the increasing globalization of the economy, and the resulting
growth in demand for cross-border education, international education finance is
an attractive market niche."
The acquired business will operate as a
division of Collegiate Funding Services under the direction of IEFC's president
and founder, Dwight Peterson.
"Since 1995, IEFC has helped school
financial aid officers as they seek financing solutions for students pursuing
international education opportunities," said Peterson. "We believe that our
existing school relationships and our commitment to the growing international
education market complements CFS' current in-school programs."
Capstone
Partners LLC is a leading national investment banking advisory firm dedicated to
serving the needs of middle-market businesses. With offices in Boston and San
Francisco, the firm maintains transactional and research resources in the
technology & media, business services and specialty products industries. www.capstonellc.com
International Education Finance
Corporation is a marketer of federally guaranteed and private education loans,
serving both U.S. students going abroad and international students coming to the
U.S. Since 1995, the company has helped more than 30,000 students finance their
international education by generating more than $700 million of student loans
via financial aid office and affinity relationships. During 2004, IEFC generated
more than $180 million of total loan volume for origination. www.iefc.com
Collegiate
Funding Services, Inc. (NASDAQ: CFSI) is a leading education finance company
dedicated to providing students and their families with the practical advice and
loan solutions they need to help manage and pay for the cost of higher
education. Collegiate Funding Services also offers a comprehensive portfolio of
education loan products and services - including loan origination, loan
servicing, and campus-based scholarship and affinity marketing tools - to the
higher education community. www.cfsloans.com
# # #
Source : http://www.prweb.com/releases/2005/6/prweb247669.htm