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CapStream Group Advises Proximity Learning, Inc. in Sale to Education Solutions Services, LLCAUSTIN, Texas, July 10, 2019 /PRNewswire/ -- CapStream LLC ("CapStream") is pleased to announce that Proximity Learning, Inc. ("PLI") has been acquired by Education Solutions Services, LLC ("ESS"). CapStream served as exclusive financial advisor and placement agent to PLI on the transaction, which closed on July 2, 2019.
Headquartered in Austin, Texas, PLI pioneered using web conferencing technology to stream virtual certified teachers into a classroom when a teacher could not be found locally. Students are able to see, learn, and interact with a teacher "live" each day from within their school classrooms. The virtual teacher even attends parent-teacher conference nights and can participate in district professional development. The PLI model directly addresses the acute and growing teacher shortage crisis plaguing school districts across the U.S. ESS, the largest K-12 staffing provider in the country focused exclusively on placing qualified substitute staff in daily and long-term school positions, will now be able to offer PLI's highly qualified certified virtual teachers to complement the Company's in-class substitutes. ith this strategic acquisition, ESS can instantly offer a full continuum of teacher staffing solutions across its customer base, while adding additional abilities around curriculum development and a solution for virtual charter schools. "I was extremely impressed with the knowledge, acumen, and deal making ability of CapStream in this transaction," said Jeff Montgomery, Chairman of the Board of PLI. "The CapStream team demonstrated creative problem solving and a drive to get the deal done for the benefit of both buyer and seller." "This was truly a 'win-win' transaction," said Randy Finch, Managing Director at CapStream. "It provided significant liquidity to PLI's founders and investors at an attractive valuation, and gives ESS a strategic advantage in the educational staffing industry and the ability to scale rapidly to meet the growing teacher shortage crisis in the U.S. and globally." "Jon D'Andrea, with whom I worked at my previous firm Westlake Securities, partnered with me on the engagement and was an integral part of the process and the ultimate success of the transaction," said Finch. Formed by business owners for business owners, CapStream is a Texas-based, modern investment bank serving entrepreneurs and family businesses. The firm's services include raising capital and advising on mergers and acquisitions. Investment Banking Services and Securities offered through Independent Investment Bankers Corp., a broker-dealer and Member FINRA/SIPC. For more information, contact: Randy Finch at (512) 484-4777 or [email protected] CapStream Group is built by business owners for business owners. Visit www.capstreamgroup.com
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