Brentwood Associates announces second dividend recapitalization of The Teaching Company

Brentwood Associates, a leading consumer-focused private equity investment firm, recently announced it has completed a second recapitalization of its portfolio company, The Teaching Company. The recapitalization is the second in the last twelve months and was financed through a $170 million credit facility.

Brentwood has now returned more than its original investments without reducing its ownership stake, as reported by CNN Money.

“The Teaching Company has continued its impressive financial performance despite a challenging macroeconomic environment, and this year is on track to more than triple its revenue and profitability since our original acquisition in 2006,” said Eric Reiter, partner at Brentwood Associates.

Ares Capital Corp. provided the incremental financing for the recap in the form of a delayed draw term loan, reported peHUB.

The End of Credit Cards is Coming

By Blake Ellis
CNN Money
Click here to read the full article

Spending via smartphone is expected to increase dramatically over the next five years.

Credit cards may soon be as outdated as vinyl records. (Remember those?) And this is the year that the slow, steady march to oblivion begins.

You can already use your iPhone, Droid or BlackBerry to buy a hotdog at the ballgame, buy your Starbucks latté, or give a friend a few bucks by Bumping phones. But by the end of the year you may not even think twice about reaching for your phone to pay at the register instead of fumbling for your credit card.

“Your plastic card hasn’t changed since the age of the vinyl records,” said Michael Abbott, CEO of Isis, a new mobile payment network. “This is the chance to bring payments forward from the plastic age and the vinyl records age to the digital age.”

While companies have been experimenting with contactless mobile payments for years, 2011 is expected to be the year the technology really takes off. That’s because millions of phones capable of making contactless payments are expected to be shipped out in 2011.