Saw Mill Capital Completes Sale of Meteor Education

BRIARCLIFF MANOR, N.Y., March 2, 2023 /PRNewswire/ -- Saw Mill Capital Partners II, LP and affiliated private equity investment funds managed by Saw Mill Capital, LLC (collectively referred to herein as "Saw Mill") today announced the successful sale of Meteor Education, LLC and affiliated assets (collectively "Meteor" or the "Company") to Bain Capital Double Impact, LP. Meteor is the leading provider for the design, delivery, and implementation of modern environments for K-12 schools, operating at the intersection of learning environments and learnings experiences.

Saw Mill initiated its partnership with Meteor in 2017. Since 2017, through a combination of organic initiatives and strategic acquisitions, Meteor has achieved significant growth, increasing EBITDA fourfold and growing from a multi-regional player to a market leader serving over 800 school districts across the U.S. Meteor's ongoing investment in high-caliber talent, culture, and cutting-edge ProSocial Learning Techniques positions the Company to capitalize on shifts in learning environment philosophy.

"It has been a privilege working alongside Meteor's talented management team to execute on our shared strategic vision," commented Travis Foltz, a Principal at Saw Mill. "Through our investment research team, we identified an attractive market opportunity with strong secular tailwinds and executed a diverse growth strategy to create value for all of Meteor's stakeholders. We are fortunate to have had the opportunity to be a partner to Meteor and its management team over our hold period, and we believe the team is capable of tremendous future success."

"Saw Mill was an exceptional partner to Meteor throughout these past five years," added Bill Latham, CEO of Meteor. "They were highly supportive of our vision for impacting schools, our growth strategies and made key investments that fueled our success.  In addition, we were able to navigate through the market challenges of the past several years and create a stronger set of talent, systems, and further professionalize our organization - helping us prepare for the next chapter of our growth."

About Saw Mill Capital

Based in Briarcliff Manor, NY, Saw Mill Capital is a private equity firm that acquires facility and industrial service, specialty distribution and manufacturing businesses with enterprise values of $25 million to $200 million. Since 1997, Saw Mill Capital has been partnering with management teams to help successful businesses reach their full potential. For more information, visit www.sawmillcapital.com.

About Meteor Education

Headquartered in Gainesville, FL, Meteor Education partners with communities and their students to create transformational learning experiences through the design and implementation of instructionally sound learning environments.  Meteor's services include the full development of learning environment design, delivery, and teacher orientation to their new space. Meteor is recognized as the leading partner of schools in accelerating student engagement through the intersection of environments and experiences.  Meteor works throughout the US with its clients in developing ongoing modernization programs that refresh and re-imagine learning environments. For more information, please visit www.meteoreducation.com.

Contact: Travis Foltz, 914-741-9097

SOURCE Saw Mill Capital