Schooner Capital Purchases Five ExecuTrain Training Centers
ATLANTA (October 12, 1999) – ExecuTrain Corp. – a worldwide computer training leader – and Schooner Capital – a $300 million private investment firm – today announced that Schooner Capital has acquired a total of five ExecuTrain locations in Boston, Hartford, Conn., New York and New Jersey. Schooner also made a significant equity investment in ExecuTrain Corp. Terms of the agreements were not disclosed.
With this transaction, Schooner Capital becomes ExecuTrain's second largest franchisee and its second largest shareholder behind Boston-based International Data Group (IDG), the world's leading IT media, research and exposition company with revenues of $2.56 billion. ExecuTrain currently maintains 25 company-owned offices operated by ExecuTrain Enterprises as well as 225 global franchise facilities.
"Strong brand name and growth potential were key factors for us in making an investment in ExecuTrain," said Chris Meyers, – a principal of Schooner Capital and president of the newly-formed ET Partners, which now operates as ExecuTrain/Northeast. "Our philosophy includes a long-term investment in IT training and we are excited about ExecuTrain's ability to bridge the gap between technology and business for continued marketplace success," he added.
Schooner Capital specializes in the active management of acquisitions in business services, technology and education. ExecuTrain intersects with this investment strategy and is poised to leverage Schooner's operational management experience as well as refine and grow its business.
"Our agreement with this leading IT investor underscores the value of ExecuTrain's vision, field location strength, client base, and IT training quality," stated Axel Leblois, ExecuTrain Corporation CEO. "Our goal is to build the industry's strongest network of training centers while providing the best service to our customers and this alliance is a further step to ensure this goal."
About ExecuTrain Corporation
Founded in 1984, ExecuTrain Corp. provides customized computer training to millions of computer users and MIS professionals worldwide. ExecuTrain offers course development and training for proprietary software as well as instructor-led training on popular business application packages. ExecuTrain maintains the highest quality standards for computer training in the industry while utilizing franchising to fuel rapid expansion. The privately held company has more than 250 franchise and company-owned locations in 41 countries and has trained more than 6.4 million people worldwide.
About Schooner Capital
Founded in 1971, Schooner Capital manages a diversified portfolio. Previous Schooner investments include: Iron Mountain, the largest records management company in the US; Continental Cablevision (now MediaOne), a top cable television company in the US; Arch Communications, a leading national provider of wireless messaging services; and Progress Software, a supplier of software development applications. Schooner's private equity investments have achieved an average annual return on capital in excess of 30%.
For additional information about ExecuTrain, please visit the company's home page at http://www.executrain.com or contact ExecuTrain Corporation, 4800 North Point Parkway, Alpharetta, Ga. 30202; 770/667-7700 (phone); 770/664-2006 (fax).