Brentwood Associates has acquired Excelligence Learning Corp., a maker of educational products sold to preschools and elementary schools. Terms of the deal were not disclosed.

The purchase marks an exit for Sterling Investment Partners, which acquired Excelligence from Thoma Bravo in 2011.

The Monterey, California-based target went on to receive a $174 million senior secured term loan from GE Capital Markets and Ares Capital in 2013 as part of a Sterling Investment-led recapitalization.

With Brentwood's backing, Excelligence expects to continue manufacturing and distribute through Discount School Supply, Early Childhood Manufacturers’ Direct, Angeles, Achievement Products, and Educational Products. In addition to schools, Excelligence also services child care programs, daycare centers and parent-teacher organizations with various types of products including arts and crafts, as well as prepackaged school supplies.

Excelligence is the fifth acquisition by Brentwood Associates Private Equity V LP, which held a final close in December 2014.

The Los Angeles firm has already made several investments from the fund, including Allen Edmonds, Lazy Dog Restaurants, Marshall Retail Group, which Brentwood picked up in August, and Z Gallerie, which the firm invested in in October.

Law firm Kirkland & Ellis LLP advised Brentwood on the transaction.

For more M&A news on child educational services, see Houghton Mifflin Buys ILearnWith Developer.


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