Boathouse Capital Completes Sale of Hoonuit to Vista-backed PowerSchool
Philadelphia, PA - November 17, 2020 - Boathouse Capital is pleased to announce the sale of Hoonuit to PowerSchool, the largest U.S. provider of K-12 education technology solutions, backed by Vista Equity Partners and Onex Corp.
The transaction brings together cutting-edge data management and analytics technologies to provide a holistic view of student achievement, including attendance, behavior, social-emotional data, enrollment, and accountability standards. Together, PowerSchool and Hoonuit fully support every aspect of the data and information ecosystem across K-12 education.
"It has been very gratifying to support Hoonuit as they have grown to serve more than fourteen million students in the United States. As part of PowerSchool, they are poised to bring their data management and analytics software to millions more students," said Bill Dyer, Managing Partner at Boathouse Capital.
"It has been a great pleasure to work with Boathouse Capital over the years," said Paul Hesser, CEO of Hoonuit. "Their knowledge of software-as-a-service companies, expertise to help pursue and evaluate M&A targets, and network of portfolio companies were extremely valuable to our leadership team. Under Boathouse's ownership, we transformed Hoonuit, becoming the leader in K-12 education analytics."
"With the acquisition of Hoonuit, PowerSchool can now offer a fully comprehensive education technology portfolio for K-12 educators with advanced analytics woven throughout," said Hardeep Gulati, CEO of PowerSchool. "The pandemic has accelerated digital transformation in schools, while also increasing challenges in equity, enrollment and learning outcomes. We are dedicated to ensuring the tools educators are using today to bridge enrollment and learning gaps, and better manage district operations, will also enhance student outcomes into the future."
Ernst and Young and Kirkland and Ellis advised PowerSchool on the acquisition, while Faegre Drinker Biddle & Reath LLP advised Hoonuit.
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About Us
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Boathouse Capital is a Philadelphia-based private equity firm with $350 million of capital under management. We invest $5 million to $40 million of flexible capital in the form of debt and equity into high growth middle-market companies including SaaS/software, technology-enabled services and healthcare IT/services companies. Our sector-focused investment strategy is centered around partnering with management teams to create enduring value and position our companies for accelerated growth.
www.boathousecapital.com 
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