New Harbor Capital simultaneously completed majority equity investments in two independent tutoring and test preparation companies: Blueprint Test Preparation and Next Step Test Prep. These companies were combined into one platform at closing as the first step in a growth strategy in the high-stakes test preparation industry. The combined company, Blueprint Education Holdings (the “Company”), is a leader in innovative, tech-enabled instructional solutions.
Headquartered in Los Angeles, Blueprint is the premier LSAT test preparation provider in the U.S., offering in-person and asynchronous online courses, private tutoring, self-study materials and application consulting services. Blueprint’s live classroom instruction is offered in 25+ locations in eight states around the country. Blueprint leverages a unique edutainment-oriented content creation capability and the latest adaptive learning technology to support individualized study plans.
Based in Chicago, Next Step is a leading provider of test preparation for the MCAT, and other graduate admissions exams. The company offers one-on-one live online tutoring with the highest quality instructors and an asynchronous online course purpose built for the substantially overhauled MCAT (2015). Through its tutoring services, online classes and array of self-study practice tests and materials, Next Step serves over 35,000 students annually.
New Harbor identified the tutoring and test prep market as a key focus area and pursued Next Step since first being introduced to the company in 2015. New Harbor separately pursued Blueprint beginning in late 2016, and after quickly realizing the numerous synergies and complementary offerings, convinced both companies to pursue a merger in combination with the New Harbor recapitalization. The combined entity will thereby create the premier provider of cutting-edge content and learning technology across a number of the most attractive admissions preparation verticals.
Planned Investment Management
- Integrate while leveraging best practices in content creation and dissemination at both companies
- Support corporate development through acquisitions within existing and adjacent verticals
- Expand service offerings and delivery modalities
- Expand geographically
- Build out a strategic board of directors
“We’re ecstatic New Harbor Capital brought us together with Next Step. The union gives us the chance to incorporate their superior MCAT curriculum into our adaptive learning platform and create a family of groundbreaking products.”
-Trent Teti, Blueprint Co-Founder and Chief Creative Officer
“We are thrilled to partner with New Harbor and Next Step to form the elite provider of grad school test prep courses and tutoring. The two companies share a common mission, and our core strengths are very complementary. Together, we will be able to deliver even better student experience and results.”
-Matt Riley, Blueprint Co-Founder and CEO
“Our team is incredibly excited to partner with Blueprint. We believe that by combining our expertise in tutoring and content in the pre-health space with their technology and video capabilities that we can create the next generation of leading MCAT and pre-health preparation.”
-John Rood, Next Step Founder and Chief Operating Officer