Sterling Partners, a leading growth-oriented private equity firm with
approximately $5 billion of assets under management, has acquired Spartan
College of Aeronautics and Technology, a prominent aviation-maintenance
school for training pilots, aviation technicians and nondestructive testing (NDT)
professionals. Terms of the transaction were not disclosed.
Spartan, a bachelor's degree-granting institution, has graduated approximately
90,000 alumni from all 50 states and 62 foreign nations since its founding in
1928. Spartan graduates are highly sought after by the aviation and heavy
maintenance industries to address the unmet need for trained professionals.
According to the Bureau of Labor Statistics, approximately 60,000 trained
technicians will be needed to fill new and replacement jobs in the U.S. airline
industry between 2010 and 2020. Sterling purchased the company from majority
owners John A. Walker, Blaine Walker and Justin Walker. Spartan president and
CEO Jeremy Gibson will maintain an ownership stake in the business and will
continue in his post. Sun Life Assurance Company of Canada provided senior
debt financing for the acquisition.
"We believe Spartan is a clear leader in the aviation and NDT higher education
space, with a decades-long reputation for high-quality education and a very
strong job placement record. It exemplifies Sterling Partners’ focus on investing
in education institutions that provide excellent outcomes for their students," said
Jason Rosenberg, a Sterling Partners principal.
"Spartan students get great jobs, and there will be a significant shortage of
aviation technicians, pilots and nondestructive testing professionals in this
country and abroad. Spartan stands uniquely qualified to help meet the needs of
the industry by continuing to produce skilled graduates. We look forward to
partnering with Spartan CEO Jeremy Gibson to continue to build Spartan and help
meet the growing needs of the industry," Rosenberg said.
"Although I was approached by several firms, we chose Sterling Partners because
of its deep experience in building top-quality institutions," said Gibson, who has
been Spartan’s president and CEO since April 2007. "Sterling will help us develop
Spartan’s infrastructure more quickly and help us expand to new regions, while
continuing to contribute to the increased global demand for aviation and
nondestructive testing technicians."
Before his arrival at Spartan, Gibson was president of Nashville Auto Diesel
College. He was a founding partner and executive vice president of Spartan
Aviation Industries, the parent of Spartan College, from December 1996 to
August 2002.
About Spartan College of Aeronautics and Technology
Founded in 1928, Spartan College of Aeronautics and Technology of Tulsa, Okla.,
provides hands-on training in aviation maintenance, avionics, nondestructive
testing and quality control. Students can graduate from Spartan’s programs in
anywhere from 12 to 23 months with high-demand skills. Students gain the
professional training and credentials necessary to work in some of the most
exciting industries and in many parts of the world.
About Sterling Partners
Sterling Partners is a private equity firm with a distinct point of view on how to
build great companies. Founded in 1983, Sterling has invested billions of dollars,
guided by the company’s stated purpose: INSPIRED GROWTH™, which describes
Sterling’s approach to buying differentiated businesses and growing them in
inspired ways. Sterling focuses on investing growth capital in small and mid-
market companies in industries with positive, long-term trends – education,
healthcare, and business services. Sterling provides valuable support to the
management teams of the companies in which the firm invests through a deep
and dedicated team of operations and functional experts based in the firm’s
offices in Chicago, Baltimore and Miami.
The people at Sterling believe in ideas and ideals, in people and partnerships that
drive long-term success.
approximately $5 billion of assets under management, has acquired Spartan
College of Aeronautics and Technology, a prominent aviation-maintenance
school for training pilots, aviation technicians and nondestructive testing (NDT)
professionals. Terms of the transaction were not disclosed.
Spartan, a bachelor's degree-granting institution, has graduated approximately
90,000 alumni from all 50 states and 62 foreign nations since its founding in
1928. Spartan graduates are highly sought after by the aviation and heavy
maintenance industries to address the unmet need for trained professionals.
According to the Bureau of Labor Statistics, approximately 60,000 trained
technicians will be needed to fill new and replacement jobs in the U.S. airline
industry between 2010 and 2020. Sterling purchased the company from majority
owners John A. Walker, Blaine Walker and Justin Walker. Spartan president and
CEO Jeremy Gibson will maintain an ownership stake in the business and will
continue in his post. Sun Life Assurance Company of Canada provided senior
debt financing for the acquisition.
"We believe Spartan is a clear leader in the aviation and NDT higher education
space, with a decades-long reputation for high-quality education and a very
strong job placement record. It exemplifies Sterling Partners’ focus on investing
in education institutions that provide excellent outcomes for their students," said
Jason Rosenberg, a Sterling Partners principal.
"Spartan students get great jobs, and there will be a significant shortage of
aviation technicians, pilots and nondestructive testing professionals in this
country and abroad. Spartan stands uniquely qualified to help meet the needs of
the industry by continuing to produce skilled graduates. We look forward to
partnering with Spartan CEO Jeremy Gibson to continue to build Spartan and help
meet the growing needs of the industry," Rosenberg said.
"Although I was approached by several firms, we chose Sterling Partners because
of its deep experience in building top-quality institutions," said Gibson, who has
been Spartan’s president and CEO since April 2007. "Sterling will help us develop
Spartan’s infrastructure more quickly and help us expand to new regions, while
continuing to contribute to the increased global demand for aviation and
nondestructive testing technicians."
Before his arrival at Spartan, Gibson was president of Nashville Auto Diesel
College. He was a founding partner and executive vice president of Spartan
Aviation Industries, the parent of Spartan College, from December 1996 to
August 2002.
About Spartan College of Aeronautics and Technology
Founded in 1928, Spartan College of Aeronautics and Technology of Tulsa, Okla.,
provides hands-on training in aviation maintenance, avionics, nondestructive
testing and quality control. Students can graduate from Spartan’s programs in
anywhere from 12 to 23 months with high-demand skills. Students gain the
professional training and credentials necessary to work in some of the most
exciting industries and in many parts of the world.
About Sterling Partners
Sterling Partners is a private equity firm with a distinct point of view on how to
build great companies. Founded in 1983, Sterling has invested billions of dollars,
guided by the company’s stated purpose: INSPIRED GROWTH™, which describes
Sterling’s approach to buying differentiated businesses and growing them in
inspired ways. Sterling focuses on investing growth capital in small and mid-
market companies in industries with positive, long-term trends – education,
healthcare, and business services. Sterling provides valuable support to the
management teams of the companies in which the firm invests through a deep
and dedicated team of operations and functional experts based in the firm’s
offices in Chicago, Baltimore and Miami.
The people at Sterling believe in ideas and ideals, in people and partnerships that
drive long-term success.
