New Harbor Capital Announces the Sale of Royall & Company

February 3, 2015 / Firm Updates

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New Harbor Capital is pleased to announce the sale of Royall & Company to The Advisory Board Company (NASDAQ: ABCO).

Headquartered in Richmond, Virginia, Royall is the industry leader in marketing and advisory services for undergraduate and graduate recruiting, financial aid and advancement (alumni giving) for traditional colleges and universities.

Royall was a portfolio company of CHS Private Equity V LP and the investment was led by the Principals at New Harbor Capital. The team worked closely with management to restructure the organization and the sales and marketing approach to accelerate growth in both core and strategically- important adjacent markets. Royall also completed the acquisition of a market leader in financial aid leveraging and also formed a strategic partnership for international student recruitment. These collective efforts resulted in dramatic increases in customer counts and revenue growth.

“We have had a great partnership with CEO John Nester and the Royall management team,” said Tom Formolo, Founding Partner at New Harbor Capital. “Royall’s market leadership expanded meaningfully during our involvement and the company is positioned well for continued success.”

“We found the operational insights and strategic expertise that Tom and his team brought to the table a valuable contributor to our continued growth,” said John Nester. “During their ownership, we achieved all-time highs in new client development and significant growth in our financial aid business with the acquisition of Hardwick-Day. We look forward to continuing our growth through our numerous synergies with The Advisory Board Company.”

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