Ridgemont Equity Partners Joins Forces with The Rise Fund
Digital Career Platform for Educators to Help Address Nationwide Teacher Shortage
CHARLOTTE, NC & SAN FRANCISCO & FORT WORTH, TX & HOUSTON (October 13, 2021) – Ridgemont Equity Partners, a buyout and growth equity investor, today announced a significant minority investment alongside The Rise Fund, TPG’s multi-sector global impact investing strategy, to facilitate the acquisition of Teachers of Tomorrow (“ToT” or the “Company”). The Rise Fund announced a definitive agreement to acquire a majority stake in ToT in early September and subsequently joined forces with Ridgemont Equity Partners, a value-added growth partner for the Company. Terms of the transaction were not disclosed.
Teachers of Tomorrow leverages technology to provide training, certification, and placement services for aspiring teachers, along with professional development resources to support teachers’ careers. As the nation’s largest teacher alternative certification program, ToT is uniquely positioned to offer the most focused professional development and test-prep offerings for teachers and school districts across the country. The Company also works closely with candidates, districts, talent acquisition teams, and principals to ensure the best possible talent is placed in the classroom.
“We have experienced incredible growth over the past several years and now have a presence in nine states in our core alternative certification business. We have greatly benefitted from our unique position as a scaled nationwide provider of professional development and test prep resources for educators across thousands of districts,” said Phillip Braithwaite, CEO of Teachers of Tomorrow. “The Rise Fund, Ridgemont, and our team at ToT are all aligned in our vision to create the most rewarding pathway for prospective teachers to enter the profession and the broadest platform for educators to access community and professional development resources. As school districts nationwide struggle to hire and retain teachers, we leverage technology to provide a unique avenue for talented, diverse, and highly-qualified candidates to enter the teaching profession and succeed in their careers.”
“We are excited to partner with The Rise Fund to invest in Teachers of Tomorrow,” said Charles Anderson, Partner at Ridgemont. “We have closely followed the Company for over a year and believe that ToT, under CEO Phillip Braithwaite’s leadership, has tremendous opportunity for growth as a leading provider of teacher training, certification, and professional development. Teachers of Tomorrow represents Ridgemont’s third platform investment in tech-enabled human capital solutions, all with shared investment themes of leveraging content, digital strategies, and consolidation to meet vocational training, hiring, and educational needs, while driving strong investment returns. We look forward to the next chapter of growth for Teachers of Tomorrow and continuing to address the acute teacher shortage across the country.”
“The number of teaching candidates is declining, driven by the high cost and time commitment associated with traditional channels, and further exacerbated by COVID,” said John Rogers, Partner and Education Sector Lead at The Rise Fund. “Out of these conditions, alternative certification has steadily grown as the pathway of choice for filling this shortage in many states due to lower costs and a more efficient training format. Through quality instruction and support, Teachers of Tomorrow is providing an opportunity for skilled professionals to make the transition to teaching, which in turn makes a meaningful difference in the lives of their students. Together with the teams at ToT and Ridgemont, we are eager to support the Company as it scales to meet these critical hiring needs.”
Houlihan Lokey Capital, Inc., and Alston & Bird LLP served as financial and legal advisor to Ridgemont, respectively.
About Teachers of Tomorrow
Teachers of Tomorrow has been the nation’s most comprehensive provider of teacher services since 2005. Committed to helping educators excel in the classroom and beyond, Teachers of Tomorrow provides holistic support across the entire lifecycle of the teacher. To provide teachers with the requisite skills to successfully enter – and stay – in the teaching profession, Teachers of Tomorrow provides accredited pre-certification training, research-based test preparation, and ongoing professional development.
About The Rise Funds
The Rise Funds are a core pillar of TPG Rise, TPG’s global impact investing platform. Founded in 2016 by TPG in partnership with Bono and Jeff Skoll, The Rise Funds invest behind impact entrepreneurs and growth-stage, high potential, mission-driven companies that are focused on achieving the United Nations’ Sustainable Development Goals. The Rise Funds deliver capabilities and expertise across a wide variety of sectors and countries at scale, focusing on opportunities in climate and conservation, education, food and agriculture, financial technology, healthcare, and technology.
With more than $11 billion in assets across The Rise Funds, TPG Rise Climate, and Evercare Health Fund, the TPG Rise platform is the world’s largest private markets impact investing platform committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns.
About Ridgemont Equity Partners
Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $5.5 billion. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. Ridgemont’s most recent flagship fund, REP III, was formed in 2018 and has $1.65 billion of committed capital.
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