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Transaction & Advisory Services

Transaction & Advisory Services


Almich & Associates has been actively involved in post-secondary education sector investment transactions for over 20 years. In the past 20 years, the education sector has seen the consolidation of many for-profit education companies primarily through acquisitions by corporate entities and private equity investments. Our firm has provided due diligence services to assist some of the largest corporate acquirers and many of the private equity firms to support the viability of the targeted acquisitions. We have also been involved in several transactions associated with the conversion, through acquisition of assets, of non-profit educational institutions into for-profit entities. Our firm provides services to both acquirers and sellers of educational institutions. We continue to be regularly involved in representing investors in making investment decisions in the education sector.

During the past several years the U.S. Department of Education (ED) has implemented numerous regulatory changes requiring us to continue to be a leader in understanding all aspects of financial and regulatory compliance requirements.

The following is a summary of the types of due diligence services that we have provided to assist investors in making their investment decisions:

  • Complete financial due diligence review including quality of earnings and quality of financial reporting to investors.
  • Review of accounting policies and practices in key areas impacting financial operating results such as revenue recognition policies and analysis of bad debt expense.
  • ED 90/10 ratio compliance (for-profit institutions only).
  • Financial regulatory compliance related to oversight by the ED.
  • Operational due diligence.
  • Gainful Employment compliance and disclosures.
  • Title IV Student Financial Aid compliance for institutions that are eligible to award Title IV funds on behalf of their students.
  • State Grant program participation.
  • Income tax due diligence.
  • Analysis of post-closing financial accounting impacts.
  • Financial reporting implications related to ED change of ownership reporting.
  • Review and assistance related to financial matters in the definitive agreements.

 

For additional information, please contact:

Joe Archer, Transaction & Advisory Services Partner - joe@almichcpa.com

Rebecca Sanders, Senior Manager - rebecca@almichcpa.com

 

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