Founded in 1996 and headquartered in North Haven, CT, Career Team, LLC (“Career Team”) is a leading provider of outsourced services to regional workforce development boards and federally and state-funded work programs across the country. Its affiliate, Career Edge, LLC (“Career Edge”), is a rapidly growing and fully integrated EdTech software platform providing learning management system ("LMS") and case management software solutions to both existing workforce development customers along with numerous higher learning institutions. Career Team and Career Edge (together, “Career TEAM” or the “Companies”) provide innovative solutions to complex social challenges including closing the opportunity divide, reducing unemployment and eradicating poverty.
Over the past few years, Career TEAM has grown rapidly due to the expansion of workforce development initiatives throughout the United States and further by the rollout of its Career EDGE’ education and training software platform. With significant continued tailwinds for future expansion, the Company and its founders/owners (Christopher and Susan Kuselias) were at an important inflection point: exploring an ownership transition that allowed for meaningful liquidity while identifying a trusted partner that could accelerate and enhance the Company’s mission and expand our impact.
The Kuselias family, through a recapitalization, elected to partner with Iron Creek Partners ("ICP"), a family office private investment firm with deep expertise in the Software sector, and Main Street Capital Corporation (NYSE:MAIN), an investment firm that provides long-term debt and equity capital solutions to growing companies. Chris Kuselias will remain in his current position as CEO and will become a member of the Companies’ Board of Directors.
“We are very excited about the partnership with our new investors as there is a shared vision for building Career TEAM’s core capabilities and a commitment to support the next phase of growth,” said Chris Kuselias, CEO and Co-Founder of Career TEAM. Kuselias continued, “We sincerely appreciate the Carter Morse & Goodrich team for holding our hands every step of the process. They did an excellent job of assisting in navigating this once-in-a-lifetime transaction for our family.”
Terence Hannafin, Managing Director of CMG, added “Having advised Chris and the Company to prepare for such an important transition, we could not be more delighted with the outcome. It was truly a pleasure to work with the entire management team as their passion and commitment to enhancing the lives of their participants and students is a true testament that you can do good while doing well.”
