As deals for education companies continue, private equity firm Nautic Partners has agreed to buy Source4Teachers.
Source4Teachers, headquartered in Cherry Hill, New Jersey, provides outsourced substitute teacher and paraprofessional managed services to K-12 schools in the eastern U.S. Terms of the deal were not disclosed.
Providence, Rhode Island-based Nautic Partners generally invests between $25 million and $75 million per transaction. Nautic invested in specialty adhesives company IPS Corp. in February, and before that bought All Metro Health Care Services Inc.
Prudential Capital Group provided financing for the deal and Houlihan Lokey acted as Source4Teachers' financial adviser.
The education space has been attracting dealmaker attention for a while. Recently, Sterling Partners closed a $200 million education-focused fund, and before that LinkedIn agreed to buy online tutorial company Lynda.com.