The Learning Annex, LLC, the leading provider of adult, self-improvement education in the United States, and Apax Partners, L.P., one of the world's leading private equity investment groups, today announced that funds advised by Apax Partners acquired a significant minority interest in The Learning Annex. The investment will enable the
company to expand nationwide and pursue strategic acquisitions. The terms of the transaction were not disclosed.
Headquartered in New York, The Learning Annex has two principal operating segments. For the past two decades, it has operated site-based, adult education classes covering hundreds of self-improvement subjects in numerous major U.S. cities, which are promoted through monthly catalogues. The company more recently launched its wealth management expo business, a consumer-focused tradeshow showcasing well-known speakers such as Donald Trump, "Rich Dad" Robert Kiyosaki and Anthony Robbins and featuring dozens of speakers on a diverse array of wealth management topics. The expos have attracted audiences exceeding 40,000 and the company intends to host 9 events in 2006, including expos in Los Angeles, Boston, Dallas, San Francisco and Atlanta.
William I. Zanker, founder and president of The Learning Annex, said, "We are very excited to partner with Apax Partners and look forward to benefiting from their perspective as experienced media investors. Their investment will enable The Learning Annex to extend the wealth management expos into additional markets, develop new self-improvement expo themes, and
simultaneously reinforce our brand presence in new distribution channels such as online learning." Mr. Zanker also noted that the company is profitable and the partnership with Apax Partners will allow the company to accelerate its, strategic initiatives and growth.
Jacqueline D. Reses, a partner of Apax Partners, L.P., said, "Over the past two decades, The Learning Annex has established a powerful franchise in the self-improvement education industry. The successful launch of the
company's expo business in 2004 and 2005 indicates that the brand and concept have broad appeal and lend themselves to other content and distribution growth opportunities. We are looking forward to working with Bill Zanker and the entire team at The Learning Annex, as the company continues to leverage its leadership position." Greg Case, general partner of Apax Partners, L.P., noted that Apax
Partners had been following The Learning Annex's progress over time and that
the transaction was introduced on a proprietary basis. "This is indicative of
Apax's emphasis on relationship investing."

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