Alpine Investors (Alpine), a middle-market private equity firm that focuses on people to build enduring companies, has sold Perennial EdTech (Perennial), its platform of market-leading education software companies, to Frontline Education, a provider of school administration software.
Terms of the private transaction have not been disclosed.
Since Alpine launched the Perennial platform in 2017 shortly after the firm’s acquisition of Escape Technology, which was rolled into Perennial, it has significantly broadened the product portfolio and more than quadrupled revenues over the past two years. Perennial now includes five market-leading software companies in the K-12 education space:
• Escape Technology (ERP)
• Digital Schools (school business software)
• eDoctrina (curriculum, assessment and accountability software)
• Healthmaster (school health management)
• Software Answers (classroom and student management software)
“The team has more than tripled as we’ve significantly grown our revenue, product suite, and geographic reach,” says Ali Jenab, CEO of Perennial.
Initially focusing on ERP software for K-12 schools, Perennial grew its offerings to include student management, student assessment, teacher evaluation, and health office management software.
“We are proud of all that we have achieved with Perennial EdTech and are excited for its innovation in the education space to continue as a result of the partnership between Frontline and Perennial,” says Daniel Cohen, Vice President at Alpine Investors.
Perennial used Macquarie as the transaction advisor and Wilson Sonsini Goodrich & Rosati as legal counsel.
