Renovus Capital Partners Invests in the Dolinka Group, a K-12 consulting company

Wynnewood, PA – Renovus Capital Partners (“Renovus” or the “Fund”) announced today an investment inDolinka Group, LLC (“Dolinka” or the “Company”). Renovus is an education-focused private equity firm based outside of Philadelphia, PA.As part of the transaction, Renovus acquired a significant stake in the business with the founder and CEO retaining a major interest in the Company.

Dolinka, based in Irvine, California, is a provider of consulting services to K-12 schools with a focus on school facility planning and funding. Since Proposition 13 capped property taxes in California in 1978, many school districts in the state have relied on assessing special fees on new housing developments to pay for school construction and expansion. Determining these fees is a highly regulated process that requires school districts to project student enrollment, the impact of new housing developments and the cost of constructing new and/or expanding existing school facilities. Few schools have the in-house staff to perform this work and so look to specialized consultants like Dolinka to prepare the fee studies and other regulatory work. In addition, many housing developers choose to pay these fees by issuing a municipal bond that homeowners in the development payback over time through an increased property tax. Under this approach, school districts, with the cooperation of developers, form a special tax district called a Community Facility District (“CFD”). The CFD will in turn issue municipal bonds to fund the fee obligation due to a school district and require annual administration which is typically performed by a third-party like Dolinka. Finally, Dolinka serves as a financial advisor to school districts on the issuance of general obligation bonds and a demographer in the preparation of facilities master plans.

“Over the past 20 years, Benjamin Dolinka has built his company into the leading provider of school facility planning, CFD administration, and financial advisory work in California.” notedBrad Whitman, a Renovus founder. “We spent a significant amount of time speaking with current and past customers, and it was clear that no one else in the state had Dolinka’s level of expertise and experience in this field.”

“With California’s economy rebounding and new housing construction growing rapidly, my firm has a wide range of growth opportunities,” added Benjamin Dolinka, Dolinka’sfounder and CEO.”I would also like to expand our operations outside of California since there is an opportunity to provide these services to school districts in a number of other states. Renovus brings the capital and education industry expertise that will help me realize these opportunities and accelerate the growth of the business.”

“Since the Great Recession, school districts across the country have become increasingly understaffed and have responded by focusing their resources on student instruction and other core functions,” concluded Jesse Serventi, a Renovus founder.”Consulting companies like Dolinka are well-positioned to grow in this environment because schools no longer have the in-house resources to do facility planning and funding work.”

DLA Piper advised Renovus on the transaction while Headwaters MB and Dorsey & Whitneyadvised Dolinka Group

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About Renovus Capital Partners

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.For additional information on Renovus Capital Partners, see www.renovuscapital.com.

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