Career Team, LLC (“Career Team”) is a leading provider of outsourced services to regional workforce development boards and federally and state-funded work programs across the country. Its affiliate, Career Edge, LLC (“Career Edge”), is a rapidly growing and fully integrated EdTech software platform providing learning management system (“LMS”) and case management software solutions to both existing workforce development customers along with numerous higher learning institutions.
With significant continued tailwinds for future expansion, the Company and its founders/owners were at an important inflection point: exploring an ownership transition that allowed for meaningful liquidity while identifying a trusted partner that could accelerate and enhance the Company’s mission and expand our impact.
The owners, through a recapitalization, elected to partner with Iron Creek Partners, a family office private investment firm with deep expertise in the Software sector, and Main Street Capital Corporation (NYSE:MAIN), an investment firm that provides long-term debt and equity capital solutions to growing companies. The owner will remain in his current position as CEO.
