Leeds Equity Partners has acquired eInstruction Corporation from Chicago Growth Partners for an undisclosed amount, according to a statement released by Berkery, Noyes & Co., which advised Leeds on the transaction.
EInstruction is a leading provider of interactive instructional tools to elementary schools, colleges, corporations, and the military. The company, based in Denton, Texas, and founded in 1980, leverages wireless technology in its education and training devices. With eInstruction’s flagship product, every student can respond to an instructor’s questions using a handheld device, while the instructor is able to instantaneously assess class performance. Chicago Growth Partners acquired the company in August 2005.
“We recognize the significant value of quality instruction, assessment solutions and interactive tools in the education process, and eInstruction is a proven innovator and leader in providing effective solutions,” Robert Berstein, co-founder of Leeds Equity Partners, said in a statement.
Yesterday it was reported that Leeds is planning to raise $1 billion (€770 million) for its next fund – what would be the largest fund ever raised for for-profit education companies. Leeds’ previous fund, Leeds Weld Equity Partners IV, closed in 2004. The fund’s target was $500 million, although the firm has not disclosed the final amount raised for that vehicle.