Business & Tech
Northbrook Equity Firm Buys Stake in Digital Media Arts College
Sterling Partners' funds to help Chicago-based institution expand.
A Northbrook-based private-equity firm will buy a controlling stake in a digital media arts college founded by a Chicago entrepreneur.
Crain's Chicago Business reports that funds from Sterling Partners will be used to expand Flashpoint Media Arts Academy, founded and led by Howard Tullman since 2007..
Terms of the transaction weren't disclosed.
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The school is based in Chicago and has about 600 students, according to Crain's.
Crain's is quoting Jason Rosenberg, a principal with Sterling as saying that “educational institutions today must provide their students with the technical and critical-thinking skills required to succeed in a workplace that's increasingly changing, and Tribeca Flashpoint Academy does just that.”
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The school provides students real-world, hands-on experience using digital technology in a two-year program focused on getting them a job. It awards associate's degrees in several disciplines, including film and broadcast, game and interactive media, and plans to add more in September, according to Crain's.
