Greybull Stewardship sells Summit Professional Education to Avathon Capital

Greybull Stewardship, a private investment firm specialising in small, established businesses, has announced the sale of Summit Professional Education to Avathon Capital.

Summit Professional Education, founded in 2004, provides continuing education for allied health professionals nationwide. Since Greybull's acquisition in 2014, Summit has expanded its offerings from in-person courses to a diverse range of learning formats, including live streams, webinars, online courses, and podcasts. This strategic shift led to significant growth, with EBITDA increasing by 600% and recurring revenue reaching 90%. 

Scott Vogel, President and CEO of Summit Professional Education, stated:

“Over the course of our partnership, Greybull helped our company evolve to meet and anticipate the shifting demands of the CPE landscape, driving significant growth. Greybull’s collaboration and capital support enabled us to advance our operations and continuously strengthen our offerings. This acquisition by Avathon will build upon that progress so Summit can further innovate and scale its products.”

Mason Myers, Founder, and CEO of Greybull Stewardship, emphasised the firm's commitment to long-term partnerships:

“Our ten-year investment in Summit epitomises two core tenants of our approach at Greybull; first, our focus on harnessing our operational expertise to help businesses institutionalise their processes and position them for sustainable growth. 

“And second, our commitment to serving as a long-term partner to help our portfolio companies see the operational improvements through and capture value on behalf of our fund investors. Greybull’s ten-year hold period of its Summit investment is rare in private equity, and it gave the company the runway to execute long-term strategy improvements and stability for its customers and employees. We look forward to seeing what the team accomplishes in this next chapter.”