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WorldStrides, Charlesbank Portfolio Company, Announces Two Acquisitions: Field Studies Center of New York and Accent Travel Group
| Source: Charlesbank Capital Partners
BOSTON, MA--(Marketwire - June 17, 2008) - WorldStrides, a portfolio company of Charlesbank
Capital Partners, has made two acquisitions: the Field Studies Center of
New York and Accent Travel Group. An accredited supplemental travel school
based in Charlottesville, VA, WorldStrides offers educational student
travel programs in history, science and the arts to destinations across the
United States, Canada, Costa Rica, Europe and Asia.
Field Studies Center of New York, established in 1969, specializes in
student travel programs focusing especially on the performing arts. A
logical product extension particularly to WorldStrides' musical programs,
the acquisition will allow WorldStrides' students to participate in one of
Field Studies Center's most popular programs -- the opportunity for middle-
and high-school choirs, bands and orchestras to perform at Carnegie Hall in
New York City.
Since its inception in 1977, Accent Travel Group has been the leading US
provider of international study programs for graduate and undergraduate
business students. The partnership with WorldStrides will give both
companies the opportunity to expand their existing travel programs and to
foster their reputations as the leaders in their respective fields. Accent
will continue to conduct business with its current Philadelphia-based
management team and staff and through its long-established industry
relationships to deliver over 100 travel programs geared toward the adult
student market.
Charlesbank Capital Partners has held a majority interest in WorldStrides
since 2005. Brandon White, a Charlesbank Managing Director, says, "We see
great potential from the Field Studies acquisition and the opportunity it
offers for students to perform at one of the world's top musical venues,
Carnegie Hall. With Accent, the expansion into adult study and travel
programs offers a broad new spectrum for future growth."
WorldStrides CEO Jim Hall adds, "These companies share a common mission
with WorldStrides to enrich students' lives through experiential travel. I
am proud of our shared values and excited for the expanded opportunities
these partnerships will bring to our organization and our clients."
About WorldStrides
WorldStrides, founded in 1967, is based in Charlottesville, VA, and employs
over 400 full-time employees in 15 offices around the US. Due to its
exceptional accredited status given by the Northwest Association of
Accredited Schools (NAAS), WorldStrides is the first organization of its
kind considered a supplemental education school. In total, about 200,000
students from across the nation travel with WorldStrides each year.
About Charlesbank
With offices in Boston and New York, Charlesbank Capital Partners is a
middle-market private equity investment firm managing approximately $1.6
billion of capital. Charlesbank focuses on management-led buyouts and
growth capital financings, typically investing $25 million to $150 million
per transaction in companies with enterprise values of $100 million to $750
million. The firm seeks to partner with strong management teams to build
companies with sustainable competitive advantages and excellent prospects
for growth. Charlesbank is currently investing through Charlesbank Equity
Fund VI, an approximately $1 billion fund. For more information, visit
www.charlesbank.com.