American Education Group gets cash to buy Barnstable Academy of Oakland.A $35 million investment from private equity firms has given American Education Group, which acquires for-profit college-preparatory schools in the United States, the cash to buy Barnstable Academy of Oakland for an undisclosed amount.
The Grand Rapids, Mich.-based company received the investment from Winona Capital Management and Chicago Growth Partners, both of Chicago.
“Barnstable provides an exciting entree into the New Jersey region, an area with many distinguished private schools,” said David Chandler, partner at Chicago Growth Partners. “We see this as a great first step in the region as we seek additional schools to build scale within the organization.”
Barnstable, which educates middle and high school students, has a stellar academic record and is known for its performance arts and athletic programs, according to American Education Group.