BETHESDA, MD – (September 20, 2021) RLJ Equity Partners (“RLJ”), an affiliate of The RLJ Companies, is pleased to announce the acquisition of Ogle School (“Ogle” or the “Company”), a portfolio company of NCK Capital originally supported by financing from Greyrock Capital Group. Financial terms of the transaction were not disclosed.
Founded in 1973 and headquartered in Dallas-Fort Worth, TX, Ogle is an award-winning, accredited provider of cosmetology and esthetics career education in Texas. Through its nine campuses in Dallas, Houston and San Antonio, Ogle differentiates itself through part-time and full-time programs with an education focus, unparalleled corporate culture, and unique student and learning experiences to a population of approximately 2,000 future beauty professionals.
“Ogle has distinguished itself as a best-in-class operator that delivers exceptional student outcomes,” said Nigel Howard, Managing Director at RLJ, who will become Chairman of the Board of Directors. “We are thrilled to be partnering with the Ogle team to build upon its tremendous success and support the Company’s ambitious growth plans.”
“Our new partner RLJ shares our vision and commitment to invest in our people, academic programs, technology, and facilities to assure the highest standards of excellence,” said John Blair, President & CEO, who will also join the Board of Directors. “With RLJ’s resources and expertise, we look forward to scaling the Company and continuing the legacy of helping our future beauty professionals achieve their career goals. The entire Ogle team is excited to embark on this next chapter with RLJ.”
Grant and Michael Kornman, co-founders of NCK, commented, “We are very proud of being a part of the Ogle family. It was so much fun to work shoulder to shoulder with John and his team to deliver best-in-class education to the institution’s students. Since its founding, Ogle has helped countless individuals pursue their dreams in the beauty industry.”
RLJ provided the controlling equity for the transaction. NBH Bank provided the credit facility and Greyrock Capital Group provided preferred equity to help finance the transaction. DLA Piper LLP and Thompson Coburn LLP served as legal advisors, PricewaterhouseCoopers served as financial advisor, and DPO&Co served as commercial due diligence consultant to RLJ.
About RLJ Equity Partners (“RLJ”): Headquartered in Bethesda, MD, RLJ Equity Partners is a middle-market private equity firm with approximately $440 million in capital under management focused on generating long-term capital appreciation by investing in profitable and growing businesses led by strong management teams. Founded in 2006 by Robert L. Johnson, RLJ originates and invests in traditional buyouts and leveraged recapitalizations. RLJ Equity Partners is a portfolio company of The RLJ Companies. For more information, please visit www.rljequitypartners.com.
About The RLJ Companies: Founded by Robert L. Johnson and headquartered in Bethesda, MD, The RLJ Companies is an innovative business network that provides strategic investments to a diverse portfolio of companies in the media and entertainment, financial services, real estate, hospitality, and gaming industries. Prior to founding The RLJ Companies, Johnson founded Black Entertainment Television (BET). For more information visit: www.rljcompanies.com.
About NCK Capital (“NCK”): Founded by entrepreneurs with extensive experience growing businesses, NCK acquires controlling interests in lower, middle-market companies across the United States that have between $2 and $10 million in EBITDA. NCK provides “right-fit” capital structures, inspiring management incentives, and extensive operational support to its partner companies. It invests in many industries, including business and industrial services, value-added distribution, for-profit education, and niche manufacturing. For more information, please visit www.nckcapital.com.
About Greyrock Capital Group (“Greyrock”): Greyrock Capital Group is a junior capital-focused private equity firm founded in 2002. Since inception and through Greyrock’s current $280 million Fund V, Greyrock aims to support independent sponsors and traditional sponsors to finance buyouts, recapitalizations, and the internal growth needs of middle-market companies. Greyrock has offices in Walnut Creek, CA, Chicago, IL, and Wilton, CT.
About Ogle School (“Ogle”): Founded in 1973 and headquartered in Dallas-Fort Worth, TX, Ogle is a leading provider of cosmetology and esthetics career education in Texas. Through its nine campuses in Dallas, Houston, and San Antonio, the Company offers differentiated programs to approximately 2,000 future beauty professionals. For more information, please visit www.ogleschool.edu.
FOR MORE INFORMATION:
RLJ EQUITY PARTNERS
Nigel Howard, Managing Director, nhoward@rljequity.com
OGLE SCHOOL
Jeff Chiarelli, Head of Marketing jchiarelli@ogleschool.edu
