Private equity fund manager Summer Street Capital Partners has invested in Midwest Technical Institute, a private, post-secondary school providing career education in the fields of welding, HVACR, allied health and cosmetology with five campuses across Illinois and Mississippi.
This transaction is Summer Street’s third platform investment in the post-secondary career school industry and the second investment in their third fund.
Though terms of the transaction were not disclosed, Summer Street manages in excess of USD550m of capital to make equity investments that typically range from USD15m to USD30m.
Summer Street is deploying its capital and resources to further promote MTI’s mission to provide outstanding industry-driven career education for students, leading to enhanced employment opportunities.
Industry veteran Brian Huff, who founded MTI and will continue to serve as the school’s president and chief executive, says: "MTI and Summer Street share an innate commitment to the success of students and compliance. Our mutual values, along with their industry experience and collaborative approach made Summer Street the right fit. Our partnership will help MTI expand our program offerings at existing campuses, and establish new greenfield campuses across the Midwest."
"MTI’s team is dedicated to enriching the lives of their students by providing career-driven education. This outstanding commitment has earned the school its extraordinary success and reputation," says Michael McQueeney (pictured), Summer Street managing partner and co-lead of the firm’s post-secondary career school investment team. "We look forward to building upon a quality educational institution that empowers students, giving them the knowledge and skills to get a better job and build a career."
