Baltimore-headquartered Parchman, Vaughan & Company said it served as a financial advisor to Philadelphia-based FullBloom in the recent sale of its special needs school in Virginia.
The specialist investment banker for educational organizations helped FullBloom sell its Chantilly, Va., unit of The Auburn School to Nova Day School.
FullBloom, a child development services platform, is led by CEO Jeffrey Cohen, who previously headed Sylvan Learning, one of the world’s largest networks of tutoring centers. Prior to that, he was a principal at Sterling Partners, a middle market private equity firm focused on education and health.
Nova Day School was co-founded by Jonathan Trichter (ex-JP Morgan and VC at Lerer Hippeau Ventures and Joel Maute, an occupational therapist. The special needs school services the educational, therapeutic and behavioral needs of students ages 5-22 with autism and related neurological differences.
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Former Ferris, Baker Watts executives Todd Parchman and Lara Vaughan established their investment banking firm in 1996. Parchman started his career as a banker in the First National Bank of Chicago’s First Scholar program. Prior to co-founding Parchman, Vaughan, he ran the investment banking unit of Ferris, Baker Watts, where he also held a board seat.
Vaughan served Ferris, Baker Watts in Baltimore, after starting her career in the Overseas Private Investment Corporation’s Special Assets Division, specializing in international loan workout and restructuring. In 2017, Parchman added former Stifel, Nicolaus executive James Rowan as a partner. As managing director, Rowan headed Stifel, Nicolaus’ education group.
Parchman provides a range of advisory services, including M&A, private equity, debt placements, debt restructuring and strategic alliances. Its recent deals include UMA Education, Inc.’s acquisition of American Institute, and the sale of Braxton School of Puerto Rico to Facts, a unit of NYSE-listed Nelnet.
