February 28, 2020
Veritas Capital Completes Acquisition of Campus Management and Edcentric from Leeds Equity Partners
NEW YORK, NY - Veritas Capital (“Veritas”), a leading private investment firm, today announced the completion of its previously announced acquisition of Campus Management Acquisition Corp. (“Campus Management”) and Edcentric Holdings LLC (“Edcentric”) from Leeds Equity Partners, LLC (“Leeds Equity”). Veritas Capital announced the definitive agreement to acquire Campus Management and Edcentric on Jan. 16, 2020. Terms of the transaction were not disclosed. Leeds Equity will continue as an investor in both companies in partnership with Veritas.
“We are excited to welcome the Campus Management and Edcentric management teams and employees to the Veritas investment portfolio,” said Ramzi Musallam, CEO and Managing Partner of Veritas Capital. “Together we will focus on accelerating the organizations’ unique missions of transforming higher education through technology.”
Tom Palmer, Executive Chairman at Edcentric said, “The Edcentric organizations will thrive with the infusion of capital and education sector experience provided by Veritas Capital and Leeds Equity. We look forward to the growth trajectory this acquisition brings to Edcentric.”
Jim Milton, CEO of Campus Management said, “Veritas has a proven track record of success, and we are confident that the continued investment and support of Leeds Equity will create a strong partnership that will enable growth and innovation at Campus Management. We believe this is a winning team and are excited to revolutionize higher education together.”
“Completing this acquisition allows Campus Management and Edcentric to enter a new phase of development and expansion. I am pleased that Leeds Equity will continue to be a part of this venture and that we have the continued opportunity to participate in the education technology transformation that is underway in today’s market,” said Jacques Galante, Partner at Leeds Equity.
Raymond James acted as financial advisor to Campus Management and Edcentric in the transactions.
About Veritas Capital
Veritas is a leading private investment firm that invests in companies that provide critical products and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide, including those operating in the aerospace & defense, healthcare, software, national security, communications, energy, government services and education industries. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. Veritas currently has $19 billion in assets under management, including committed capital of $6.5 billion from The Veritas Capital Fund VII, L.P which closed in October 2019. For more information on Veritas and its current and past investments, visit www.veritascapital.com.
About Leeds Equity Partners
Leeds Equity Partners, LLC, is a New York-based private equity firm dedicated exclusively to partnering with management teams in the education, training and information services industries (the "Knowledge Industries"). The firm was founded in 1993 and currently manages $1.7 billion of capital across a broad spectrum of companies within the Knowledge Industries. Leeds Equity seeks to leverage its sector-focused expertise and market insights to create long-term value for its partner companies.
About Campus Management
Campus Management is a leading provider of cloud-based SIS, CRM and ERP solutions and services that transform higher education institutions. Today, more than 1,100 institutions in over 30 countries partner with Campus Management to transform academic delivery, student success, and operational efficiency. Campus Management is a finalist for the 2019 Microsoft Power BI Partner of the Year.
Edcentric is the leading provider of institutional effectiveness software to over 1,400 education institutions. The company's software leverages data to enable planning, assessment, engagement and fundraising, thereby improving overall institutional effectiveness.
For Campus Management:
Rob Sparks, Chief Marketing Officer
(214) 600-4705 / [email protected]
Tom Palmer, Executive Chairman
(913) 685-5207 / [email protected]
For Veritas Capital:
David Millar / Julie Rudnick/ Julie Casale
Sard Verbinnen & Co
(212) 687-8080 / [email protected]