Middle-market private equity firm Brentwood Associates in Sawtelle announced on Feb. 6 an investment in Credentials Solutions, a technology company that provides business services to the higher education sector. The amount invested was not disclosed.
Credentials, based in Northfield, Ill., offers software including TranscriptsPlus, eduCheck, RoboRegistrar, TranscriptsNetwork, eRoboMail, ParkingPlus and MuniPlus to simplify administrative processes for colleges and universities. Credentials has 800 customers and processes more than five million transcripts per year, according to Brentwood.
Brentwood is the first institutional investor to partner with Credentials, according to Craig Milus, managing director of Brentwood Associates.
“As Credentials’ customers continue to move towards online forms, consolidated information and automated workflows, we look forward to supporting the company’s growth in areas such as product development and new solution offerings as well as with complementary add-on acquisitions,” Milus said.
As part of the deal, Credentials Solutions Chief Executive Tom McKechney and Chief Operating Officer Jeff Geldermann will stay on while Steve Moore and Craig Milius of Brentwood Associates will join Credentials’s board.
Credentials was advised by Robert W. Baird & Co. Inc. and its legal counsel was Kirkland & Ellis. Brentwood was represented by Andrews Kurth Kenyon.