Renovus Capital Partners Invests in Stratus Prep, an Admissions Counseling & Test Prep Provider
Wynnewood, PA – Renovus Capital Partners (“Renovus” or the “Fund”) announced today an investment inStratus Prep, LLC (“Stratus Prep” or the “Company”). Renovus is an education-focused private equity firm based outside of Philadelphia, PA.As part of the transaction, Renovus acquired a major stake in the business with the founder and CEO retaining a significant interest in the Company.
Stratus Prep, based in New York City, New York, is a provider of admissions counseling and test prep services to students applying to professional, graduate and undergraduate schools. The Company’s largest offering supports students applying to business school and taking the Graduate Management Admission Test (“GMAT”). With business school admissions becoming increasingly competitive, applicants must do more to differentiate themselves through their applications and essays, and Stratus Prep works with top students to craft an effective admissions package to leading business schools. The Company delivers these services through a network of counselors who are all graduates of top business schools, many of whom have prior experience working in admissions departments at elite institutions. Stratus Prep customers are routinely admitted to leading business schools like Harvard, Stanford and Wharton. In addition to supporting business school applicants, the Company also works with students applying to law school, graduate school and college.
“The partnership with Renovus will enable us to really accelerate the growth of the business,” noted Shawn O’Connor, Stratus Prep’sfounder and CEO.”We have a tremendous opportunity to expand Stratus Prep into new lines of business, particularly working with high school students to get into elite colleges. Admission to the Ivy League is more competitive than ever and parents with top students are more than willing to invest in the counseling and test prep that can get their children into the school of their choice.”
“There is a tremendous supply/demand imbalance between elite universities and qualified applicants, especially with growing numbers of international students applying to U.S. institutions” added Atif Gilani, a Renovus founder.”We spent a significant amount of time researching the quality of Stratus Prep’s services and were very impressed with their success rates. They clearly make a difference in getting a student into a top university.”
“The admissions counseling and test prep market is highly fragmented, with many small providers,” concluded Brad Whitman, a Renovus founder.”What set Stratus Prep apart from other companies we’ve seen is the quality and experience of their counselors, and Shawn’s efforts at creating a standardized, successful approach to crafting an application. With many admissions counselors you never know what you are going to get, but with Stratus Prep there is a proven methodology behind their approach that has worked time and again. ”
DLA Piper advised Renovus on the transaction while Dickstein Shapiro and MidCap Advisorsadvised Stratus Prep.
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.