Heavy Equipment Colleges of America Recapitalized by Argosy Capital

Navagant LLC, a leading middle market investment bank focused on serving mission-driven organizations, advised Heavy Equipment Colleges of America on its recapitalization by Argosy Private Equity.

As a leading provider of heavy equipment, crane, and directional drill training, HECOA programs are designed to equip its students with hands-on training and skills development to operate heavy machinery such as bulldozers, excavators, cranes, and backhoes.

With its expansive geographical reach in the US across Georgia, California, Oklahoma, and Washington, HECOA’s 3-week training programs and associate degree program include classroom instruction and immersive, on-site training to equip students with the necessary skills opening a multitude of job opportunities following graduation. The Company has an impressive track record with unparalleled student outcomes demonstrated through leading graduation and placement rates, and blue-chip partners that see HECOA as an excellent talent pipeline.

Since Evolution Capital invested in 2015, HECOA achieved consistent growth and profitability, while building a leading market brand across the US. The Company expanded its presence on the West Coast and onto Joint Base Lewis McChord, developed several new programs that have seen impressive success, and cultivated strategic institutional partnerships that opened excellent opportunities for students. HECOA’s dedication to continual growth is a testament to their commitment to providing the best career opportunities that lead to life-changing student outcomes.

Jacob Voorhees, Managing Director of Navagant, stated, “HECOA is at the forefront of affordable allied trades education, allowing students to upskill and significantly improve their earning power in just three weeks. This education will be critical to the expansion of infrastructure spending and the use of lattice boomcrawlers, tower cranes, directional drills, etc. Argosy will be a great partner to help get these educational opportunities into the hands of the workers that will be driving these opportunities.”

Cory Albano, CEO of HECOA said, “Navagant’s expertise throughout the process and commitment to helping us find the best partner delivered the ideal outcome for both the shareholders and the management team. We’re excited to partner with Argosy. Their expertise and resources will allow us to expand our operations, while simultaneously continuing to focus on delivering top-tier training and career development for our students.”

Synergies & Long-Term Value Creation

By partnering with Argosy, HECOA will enhance their ability to serve its student base through its valuable 3-week educational programs that have been proven to dramatically increase their lifelong earnings. With future planned expansion and new program opportunities, HECOA will continue enriching the lives of its students and help them build better livelihoods for themselves and their families on a broader scale, while reaching a greater number of people looking to make impactful career changes.