September 2016

Location - Carter Morse & Mathias ("CMM") is pleased to announce that Excent Corporation, a provider of data management software solutions designed for special education and student intervention management, has been acquired by Frontline Education, the nation’s leading education software company backed by Insight Venture Partners ("Frontline").
ExcentTB
Excent Corporation, headquartered in Roswell, Georgia, and backed by Calvert Social Investment Fund was advised by Carter Morse & Mathias. Terms of the transaction were not disclosed.

Excent provides administrators and educators with innovative, easy-to-use solutions that simplify administration, compliance and management of programs for students with specialized. The acquisition will substantially enhance Frontline Education’s ability to serve educators, parents and students across more than 8,500 educational organizations.

“Few areas of education are as complex and compliance-driven as special education and intervention management,” said Tim Clifford, CEO of Frontline Education. “Through the acquisition of Excent, we are able to increase our dedication and committed resources to this critical market, expanding our student solutions portfolio to address the full range of special education and intervention needs.”

Frontline Education has acquired four companies since January 2016 with the goal of steadily growing its integrated solutions platform to better serve the front line of education. This is particularly evident in special education where the addition of Excent will broaden the Frontline Student Solutions portfolio and footprint in IEP (Individual Education Programs), RTI (Response to Intervention), Section 504 and Medicaid solutions.

Scott Shickler, founder and CEO of Excent, “We have remained dedicated to providing special education software and services that increase productivity, improve student outcomes and inspire special education innovations since our founding more than 20 years ago. Joining a growth-stage company that is both dedicated to the special education market and the clear leader in K-12 education management solutions will be of great benefit to all those who work to enrich the lives of special needs students.”

Michael Carter, Managing Director of CMM, explained, “It is especially gratifying to represent Scott Shickler’s company again. I met Scott in the late 1980s and for nearly 30 years, I have enjoyed helping him grow his business and ultimately realize its potential through this meaningful transaction.”

Scott Shickler commented “I have shared a close relationship with Michael, who has been not only trusted business advisor but also a friend and shareholder. I have always relied on CMM to provide quality advice on difficult financial topics that directly and indirectly impacted our shareholder value. I look forward to continuing our relationship for many years to come.”

Excent was also represented by Greenberg Traurig, LLP and Frontline was represented by Wilkie Farr & Gallagher LLP.

For more information, please contact Michael Carter at Carter Morse & Mathias.

About Carter Morse & Mathias

Founded in 1987, Carter Morse & Mathias is a boutique investment bank specializing in advising privately held middle market companies. CMM provides a full range of investment banking services: business sales and divestitures, equity and debt capital raises, acquisition services, and pre-transaction and strategic advisory services. Time and time again, our strategic guidance and seamless transaction execution has proven crucial for clients, many of whom we represent in their once-in-a-lifetime transaction. For nearly 30 years, CMM's combination of hands-on Managing Director involvement and extensive network of domestic and international resources has enabled us to help hundreds of business owners plan, execute, and close transactions that maximize shareholder value.

CMM's Broker/Dealer affiliate, Carter Capital Corporation, is a FINRA member firm registered with the SEC and SIPC. CMM is also a charter member of AICA, an international network of M&A professionals in over 20 countries across the Americas, Europe, Asia, Latin America and the Middle East.