TORONTO – A Toronto-based classroom furniture supplier has been sold by one private equity firm and purchased by another.
The Toronto-based Ironbridge Capital has sold Alumni Educational Solutions to New York-based private investor Castle Harlan. The financial terms of the transaction were not disclosed.
“Our partnership with Alumni has been exceptional, marked by shared commitment and collaboration to drive growth,” said Andrew Walton, managing partner at Ironbridge. “We extend our best wishes to management for their continued success and express our gratitude to the original founders for their contributions over the years.”
Alumni is a manufacturer and distributor of furniture for classrooms from pre-school to 12th grade. The company operates a showroom and warehouse in Temple, Texas, with a headquarters in Ontario. Ironbridge acquired Alumni in 2019 and has been lead investor since.
“Ironbridge has been an outstanding partner to Alumni and its leadership team,” said Dave Godwin, founder of Alumni. “Their strategic guidance has been invaluable as we evolved into a true multinational platform.
The buyer, Castle Harlan, owns four other companies, including tuna farmer Baja Aqua, spray tanning equipment maker Sunless, oil and gas equipment maker Titan Production, and offshore rig operator Shelf Drilling.
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