TORONTO, April 25 /CNW/ - Wellington Financial LP, a privately held
specialty finance firm, today announced a $3.4 million debenture financing for
The Administrative Assistants Ltd. ("aal"), a leading provider of Student
Information Systems software. The funds will be used to fund working capital
and further growth.
"aal has a robust offering that is uniquely positioned to help school
districts, provinces and states as their requirements grow in size and
complexity," said Craig W. Netterfield, Investment Manager at Wellington
Financial. "We are pleased to provide the True Growth Capital needed to help
the team realize on this opportunity."
For over 20 years, aal has been a premier North American supplier of
student information software allowing school administrators, teachers, and
professional staff to effectively manage student information through aal's
web-based system, eSIS(R). From student records and bus schedules to nurse and
health records, authorized users are able to securely access real-time
statistics and critical information.
"eSIS(R) is already implemented in more than 7,000 schools supporting
over 6.5 million students, and we are excited to have Wellington Financial's
support of our continued growth," said Brian Currie, President and CEO of aal.
Chaitons LLP and Pichelli Rayner provided legal advice for this
transaction. Horne Corporate Finance acted as agent for aal.
Since inception, Wellington Financial LP has led or participated in over
$200 million of transactions, making it one of the most active funds of its
kind in Canada.
About Wellington Financial LP
Wellington Financial LP is a privately held specialty finance firm
providing operating lines of credit from $1 million to $5 million; and term,
venture and amortizing loans up to $30 million. Wellington Financial LP is
currently deploying a $400 million investment program via its third fund. The
fund's clients vary in size and business model, but generally have current
year revenue of approximately $5 million. Wellington Financial LP is managed
by a partnership controlled by fund management and Clairvest Group Inc.
(CVG:TSX), who jointly have contributed a large financial stake to Fund III.
Limited partners include several of Canada's largest institutional investors,
crown corporations, financial institutions and pension funds. Please visit the
fund website at www.wellingtonfund.com, or the Wellington Financial team blog
About Adminstrative Assistants, Ltd.
For over 20 years, aal has specialized in the development and
implementation of education data management systems. Recognized as one of the
most powerful, richly-featured web-based systems available today, aal's
eSIS(R) is implemented in over 7,000 schools and is the solution of choice for
state or province-wide implementations, as well as many multi-district
consortiums across North America. With eSIS(R), student and school data is
available enterprise-wide and at any level (province or state, multiple or
single district, and school). eSIS(R) is also SIF-certified, making it
possible to integrate and capture more information about students without
redundant data entry.
For further information:
For further information: Amy Olah, Marketing Manager, Wellington
Financial LP, Tel: (416) 682-6002, firstname.lastname@example.org