Generation purchased a majority interest in Post Education, Inc., which in turn invested in Post University, Inc. in October 2004.Generation had targeted the for-profit, post-secondary education industry for investment two years prior to our acquisition of Post University due to strong secular trends in adult education and the increased adoption of online education programs. Our firm invests in companies poised to lead change in their industries through the adoption of technology. Online programs have and will continue to greatly impact the way post-secondary education is being taught – working adults are now able to obtain degrees at times and locations that are more convenient to their schedules and lifestyles. Generation was also keenly interested in the education industry as a way to “do well while doing good” – this is a key consideration in many of our investments as we practice what we call “conscious capitalism.”

Generation led the acquisition of the assets of Teikyo Post University, changed the name to Post University, converted the institution from a non-profit to a for-profit company and received approval from the New England Association of Schools and Colleges, Inc., the Connecticut Department of Higher Education, and the U.S. Department of Education. We also recruited a new CEO, Dr. Tom Samph, who was an E&Y Entrepreneur of the Year, was previously the CEO of three highly successful education-related companies and also served as a faculty member at a major university.
 

Since our investment, Generation has been actively involved in Post’s growth. Generation worked to create a strong Board of Trustees from the public and private sector with backgrounds in finance, human resources, healthcare, government and manufacturing. We have worked with the Board of Trustees and Dr. Samph to set strategy, recruit key personnel, improve course offerings and build the technology infrastructure. We have also assisted the administration and faculty in refining its degree offerings, moving Post away from its broad liberal arts background to a more concise, career-oriented curriculum focused on employer-friendly courses designed to lead directly to jobs, as well as introducing its first Masters Degree program. We continue to hold this investment and are very excited about both its financial prospects and the potential to demonstrate that a for-profit conversion of a higher education institution can deliver quality education with the highest integrity and can yield tremendous benefits for the students, faculty, community and yes, even to shareholders. We believe these goals are not mutually exclusive.