AUSTIN, Texas–(BUSINESS WIRE)–Leading education technology solutions provider Lightspeed Systems
(“Lightspeed” or “the Company”), announced today that it has completed
its previously announced strategic growth investment from private equity
funds advised by Madison Dearborn Partners, LLC (“MDP”), a leading
private equity firm based in Chicago. The investment will enable
Lightspeed to drive forward its growth strategy as adoption of its
market-leading technology continues to increase. Lightspeed’s existing
management team will remain in place and have an ownership position in
the Company, as will the Company’s Co-Founders.
“This is an exciting day for Lightspeed and the educators and students
we serve. With the support of MDP and its education technology resource
network, Lightspeed will be better positioned to capture growth as a
leader in the ongoing education technology revolution,” said Brian
Thomas, Lightspeed’s Co-Founder, President and CEO. “We look forward to
executing our growth strategy and capitalizing on favorable market
trends in support of our mission to enhance student safety and maximize
the benefits of education technology. Together with MDP, we are
confident that we can bring our innovative solutions to more K-12
students around the world.”
Lightspeed has been building and evolving technology for more than 20
years and serves over 15 million students worldwide today, offering
market-leading, purpose-built software through its multi-OS Relay cloud
platform that filters, monitors and manages student web access,
distributed devices and classroom activities and provides powerful
reporting and student safety tools. Having served K-12 schools since
1999, Lightspeed’s differentiated ability to operate across any device,
operating system or network has positioned the Company as a leader as
the demand for technology in the classroom that can help safeguard the
health and wellness of students continues to grow.
MDP will work with Lightspeed’s leadership team to capitalize on
attractive growth opportunities for the Company worldwide. These include
helping extend Lightspeed’s market leadership position, further
penetrating the growing domestic and international K-12 web filtering
and reporting, mobile device management and classroom management market,
and continuing to deepen end-customer relationships while leveraging
channel partner sales initiatives.
In addition to the equity investment, Lightspeed has received debt
financing from a term loan and revolving credit facility provided by PNC
Bank, N.A. Terms were not disclosed.
William Blair & Company served as Lightspeed’s financial advisor, and
DLA Piper LLP provided legal counsel to Lightspeed. Kirkland & Ellis LLP
provided legal advice to MDP. MDP also engaged GSV Advisors, a leading
advisory firm dedicated to the education and HR technology sector, for
strategic counsel.
About Lightspeed Systems
Lightspeed Systems partners with schools to make learning safe, mobile
and easily managed. Partnered with 6,500 districts in the United States
and 28,000 schools around the world, Lightspeed Systems offers
integrated filtering, management, monitoring, and protection for schools
through its groundbreaking platform, Relay. Headquartered in Austin, TX
(with offices in Portland and the U.K.), Lightspeed serves over 15
million students in 35 countries. To learn more, visit https://www.lightspeedsystems.com.
About Madison Dearborn Partners
Madison Dearborn Partners, LLC (“MDP”), based in Chicago, is a leading
private equity investment firm in the United States. Since MDP’s
formation in 1992, the firm has raised seven funds with aggregate
capital of approximately $23 billion and has completed over 140
investments. MDP is currently investing out of its most recent fund,
$4.4 billion MDCP Fund VII, in businesses across a broad spectrum of
industries, including businesses and government software and services;
financial and transaction services; basic industries; health care; and
telecom, media and technology services. For more information, please
visit https://www.mdcp.com.
Contacts
For Lightspeed Systems:
Amy Bennett
VP, Marketing
[email protected]
For MDP:
Abernathy MacGregor
Melissa Gansler or Paige McKenna
212-371-5999
[email protected]
