Education Corporation of America

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Chief Restructuring Officer

Birmingham, AL

Education Corporation of America (“ECA”) included Virginia College, Brightwood College, New England College of Business, EcoTech, and the Golf Academy.

Decline performance industry wide made finding the capital to execute a strategic acquisition a challenge.

CMA was hired by Monroe Capital, a debt capital provider, to assess ECA’s financial position, management capabilities and the industry as a whole.

Key Challenges
Declining Revenue
Distressed Industry
Complex Strategic Acquisition

Engagement Highlights

  • Worked with the ECA management team in identifying strengths and weaknesses to determine the viability of the strategic acquisition and Monroe Capital’s investment.
  • Constructed financial models with sensitivity to determine loan covenants and debt structure. 
  • Assessed regulatory compliance risks and the potential impact of Gainful Employment.

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