U.S.I. Holdings Corporation to Acquire Summit Global Partners
U.S.I. Holdings Corporation ("USI") announced that it has closed on the acquisition of Dallas, TX headquartered Summit Global Partners ("SGP"). Established in 1996, SGP is, according to published sources, the 14th largest privately held insurance brokerage firm in the United States. SGP specializes in risk management and employee benefits for middle market companies throughout the U.S. with offices in Texas, Florida, Illinois, California, Tennessee, New Mexico and Michigan. SGP is expected to contribute approximately $66 million of revenues to USI on an annual basis. The sale of SGP marks a successful completion to CRP's investment.
CRP V Advisory Board Expanded
Capital Resource Partners is pleased to announce the expansion of its CRP V Advisory Board. Joining the Board are Graham Beare, Ronald A. Kahn and Steven J. Lee.
Graham Beare is Vice Chairman of Managerial Design, a strategy and management practices consulting firm that has assisted 130 organizations over its 30 year history. Prior to Managerial Design, Graham was the President of a multi-national division of the Danaher Corporation.
Ron Kahn is a Managing Director of Lincoln Partners, a leading middle market investment bank based in Chicago, Illinois. Ron heads the Private Placement Group and is widely published on topics of capital raising. He has chaired a national conference on mezzanine finance for the past ten years.
Also joining the CRP V Advisory Board is Steven J. Lee, a successful entrepreneur and investor. Steven was CEO of Polymedica, a leading provider of direct-to-home specialty medical products and services. Steven was also President of Shawmut National Ventures and more recently has started his own investment firm specializing in growing companies in the medical and high technology fields.
We are pleased to have Graham Beare, Ronald Kahn and Steven Lee join our existing Board, which includes Henry Robin of AlpInvest Partners, Inc., Edward Lewis of CIGNA Retirement & Investment Services, John Clark of General Motors Investment Management Corporation, Edwin Poston of the Rockefeller Foundation, and Arthur Little of A&J Acquisition, Inc.
eCollege Outlines 2005 and Long-Term Financial Guidance
DENVER, Feb. 3 /PRNewswire-FirstCall/ -- eCollege(R), a leading provider of value-added information services to the post-secondary education industry, today announced the signing of a renewed, multi-year agreement with DeVry Inc., one of the largest publicly held higher education companies in North America. eCollege will continue to power all of DeVry University's graduate and undergraduate online offerings, including programs and courses delivered completely online as well as online supplements for on-campus courses.
"As we see an increasing number of students moving across delivery modes, we believe eCollege's comprehensive technology and service solution provides a seamless and high-quality experience for our students, while also enabling us to better meet our students' evolving needs," said Daniel Hamburger, president and chief operating officer of DeVry Inc. "Our long-term partnership with eCollege has been instrumental in helping us achieve strong growth in our online programs."
eCollege and DeVry began their strategic partnership in 1997. In 2003, DeVry University standardized all of its eLearning offerings on the eCollege System, making eCollege its sole provider for its growing and diversifying enterprise-wide programs. DeVry University's standardization provides all students and faculty with a consistent experience whether accessing courses online, on-campus or through a combination of both delivery modes in a hybrid approach. This is especially critical given DeVry University's emphasis on making its programs and delivery options more competitive for its students, many of whom prefer the convenience and flexibility of having both online and on-campus options.
"DeVry University has established itself as a leader in online education by meeting the diverse needs and growing demand of its students through greater educational opportunities," said Oakleigh Thorne, chairman and CEO of eCollege. "We are very proud to play a significant role in such a successful online operation, and we look forward to further helping DeVry enhance the learning process for all of its students."
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