Houlihan Lokey Advises Summit Professional Education

Houlihan Lokey is pleased to announce the sale of Summit Professional Education (Summit), a national leader in providing high-quality continuing education for allied health professionals and a portfolio company of Greybull Stewardship (Greybull), to Avathon Capital (Avathon). The transaction closed on April 25, 2024.

Founded in 2004, Summit is a provider of in-person and online continuing and professional education (CPE) courses for physical therapists and assistants, occupational therapists and assistants, and speech-language pathologists. The company has established itself as a cornerstone in the CPE landscape, having educated more than 400,000 students since its inception and offering over 1,500 courses nationwide. The company’s extensive course library, coupled with its experienced base of more than 100 instructors and robust technology platform, makes it an essential resource for healthcare professionals seeking to maintain licensure and enhance their skills through high-quality educational offerings.

Greybull is a private investment firm supporting established, small businesses on their way to scalable and sustainable success. With decades of operational experience and financial acumen, its team of multidisciplinary operators provides a suite of tailored resources and strategic guidance extending beyond just capital. Greybull proudly cultivates partnerships with motivated entrepreneurs to realize their full potential and confidently navigate the complexities of expansion. Founded in 2010, Greybull is headquartered in Jackson, Wyoming, with team members located throughout the U.S. to effectively support the firm’s investments.

Avathon, a private equity firm based in Chicago, specializes in investing in growing, lower-middle-market companies in the education and workforce markets. Avathon’s principals are curious, creative, determined, and thoughtful investors. The team shows up prepared and ready to turn its relationships and experience into a competitive advantage for its partners. Avathon selectively targets opportunities where it can invest $20 million to $50 million of equity capital and take a meaningful ownership position in companies with the potential to become enduring and strategically important businesses in their market.

In partnership with the incoming executive team, Avathon will help the company accelerate its go-to-market strategy, expand its content library organically, and has already begun pursuing several compelling acquisition targets across the healthcare and financial services end markets.

Houlihan Lokey served as the exclusive financial advisor to Summit and assisted in marketing, structuring, and negotiating the transaction on behalf of the company. This transaction highlights the team’s expertise and continued success in the professional learning sector, marking the team’s 17th transaction since the beginning of 2021.