Millpond Equity Partners and Wasena Capital Management Acquire Career and Technical Education Provider Paxton/Patterson
Boca Raton, FL – Millpond Equity Partners (“Millpond”) and Wasena Capital Management (“Wasena”) announced today the acquisition of Paxton/Patterson (“Paxton” or the “Company”), an Alsip, Illinois-based provider of career and technical education to elementary, middle, and high schools nationwide. Paxton/Patterson assists educators in preparing students for technical careers in engineering, computer science, health science, advanced manufacturing, green construction, and other sectors. School districts rely on Paxton to deliver a turnkey, custom program including digital curriculum, lab design, equipment, educator training, and ongoing educator support. Paxton has been serving the market for several decades and now serves hundreds of school districts nationwide.
Paxton/Patterson, through its Elementary Career Labs™, College & Career Ready Labs®, STEM Learning Systems®, Health Science Careers®, and BuildingSkills® provides college and career preparation. Utilizing 16 primary career clusters and over 80 modules, Paxton’s offering provides career exploration integrating math, science, reading, and critical thinking skills for primary school students. The career clusters and modules include STEM education and pathways to post-secondary success in areas from alternative energy to robotics and automation; healthcare career education related to medicine, nursing and health science programs from biomedical engineering to veterinary medicine; and industry-standard tools and equipment to explore careers in the construction industry from blueprint reading to carpentry skills. The Company provides a hands-on experiential learning environment to engage students in authentic problem-based experiences to discover their interests, provide relevant career experiences and develop post-secondary plans for success.
“I believe this is an excellent collaboration with Millpond and Wasena and their resources will help accelerate our mission to be the best college and career preparation for America’s youth. Their experience in the education and training sector will enable us to better serve our education partners, instructors, and students. It’s a win for everyone.” stated Nate Schuessler, CEO of Paxton/Patterson.
“We are very excited to partner with the Paxton/Patterson management team to build upon the Company’s strong product portfolio, long-term customer relationships, and successful track record of growth,” commented Wasena Capital Managing Principal Mark Eidemueller.
“Paxton/Patterson has partnered with hundreds of schools to develop an engaging, differentiated career exploration experience for students. We are excited to add career and technical education to Millpond’s growing portfolio of education sectors served. We look forward to working with the Company to build upon their leadership position and capitalize on the growing career and technical education sector,” added Millpond Equity Partner Larry Shagrin.
