ATLANTA & LOS ANGELES–(BUSINESS WIRE)–Roark Capital, an Atlanta-based private equity firm focused on franchised and multi-location businesses, announced that its affiliate has acquired Mathnasium.
Founded in 2002, Mathnasium is a leading franchisor and operator of math learning centers with over 1,000 locations across 46 states and 12 countries. Mathnasium delivers customized learning plans designed to help students improve their math skills and develop confidence in the subject through fun and engaging live instruction. Mathnasium franchisees have served more than one million students worldwide.
“Mathnasium is honored to join the Roark family of brands. Working together, we see a powerful opportunity for Mathnasium to transform the lives of many more children around the world and enable our franchisees to achieve even greater success,” said Mathnasium CEO Shant Assarian.
Clay Harmon, Managing Director at Roark, said, “Peter Markovitz, David Ullendorff and Larry Martinek founded and built a purpose-driven brand focused on high quality, effective and fun math tutoring. We look forward to supporting the Mathnasium team and franchisees in continuing their mission.”
“We are excited to be part of the next chapter for Mathnasium,” said Roanne Daniels, Managing Director at Roark. “We want to bring the benefits of the Mathnasium Method to more families around the globe.”
Mathnasium is Roark’s 28th investment in a founder-owned company and 98th franchise/multi-location brand.
North Point Mergers and Acquisitions served as the financial advisor to Mathnasium in connection with the sale. Mathnasium was advised by Choate, Hall & Stewart LLP. Roark Capital was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP.
About Roark
Roark focuses on investing in the consumer and business services sectors, with a specialization in franchised and multi-location businesses. Since inception, affiliates of Roark have invested in 98 franchise/multi-location brands, which collectively generate $61 billion in annual system revenues from 66,000 locations in 50 states and 89 countries. Please visit www.roarkcapital.com to learn more.
About Mathnasium
Mathnasium is North America’s leading math-only supplemental education franchise. The Mathnasium Method™ — the result of decades of hands-on instruction and development — has been transforming the lives of children in grades K-12, helping them understand, master, and love math. With more than 1,000 learning centers worldwide, Mathnasium has been ranked on Entrepreneur Magazine’s list of top 500 franchises 15 times since 2004.
