Our aim is to build earnings - to build cash flow - to build value. Liberty Partners and our management teams attain these goals time and time again - an achievement that is rewarding to all concerned.
|
Liberty Partners Establishes Liberty Higher Education, LLC and Acquires York Technical InstituteNEW YORK, NY - May 10, 2005 - Liberty Partners, L.P., today announced the formation of Liberty Higher Education , LLC and its acquisition of York Technical Institute, LLC (YTI), a leading Pennsylvania-based career education company, formerly owned by its employee pension fund. Liberty Higher Education will pursue strategic investments in various segments of the fast growing post secondary education industry. Target companies will be characterized by regional or niche market leadership, proven economics, attractive growth prospects and strong barriers to entry. Specific areas of interest include campus-based and distance learning for both first-time career seekers and adult career changers. Peter Bennett, Chairman and Chief Executive Officer, Liberty Partners, stated “A combination of forces including population growth and structural change in our economy converge in the post secondary education industry to make it a very fast growing and dynamic investment opportunity. We have established Liberty Higher Education to capture and leverage the industry and management expertise necessary to participate in several of the most attractive segments. In that regard, Liberty Higher Education is proud to announce the appointment of Timothy E. Foster, former Chairman and Chief Executive Officer of Ross University, as its CEO and Executive Chairman of YTI.” Mr. Foster stated, “I am delighted to be playing a role in the founding of Liberty Higher Education and I am particularly pleased with our first investment, York Technical Institute. We have evaluated numerous campus-based career education companies and few match YTI’s educational outcomes and growth prospects. I am truly looking forward to working with this management team.” Harold Maley, YTI President, stated, “The transaction with Liberty afforded us the perfect opportunity to ensure continued growth and enhancement of YTI’s programs while enabling our employees to diversify their pension holdings. We are honored to be Liberty’s inaugural investment. Their overarching vision is entirely in keeping with our longstanding strategy of providing high-quality, student-centered, entry-level career education. Our goal remains constant: Changing People’s Lives…One Student at a Time.”  |
