Avathon Capital: Buy Box & Recent Acquisitions

At a glance

Check size	$10M to $50M S2
Deal types	Platform, Add-on, Minority S2
Sectors	Education, IT Services & MSP

What Avathon Capital buys

Avathon Capital is a Chicago private equity firm that invests only in education and workforce businesses. It began in 2015 as Sterling Partners' Education Opportunity Fund, took the Avathon name in 2019, and now runs as an independent firm. Its companies include early childhood centers, K-12 service providers, study abroad and international student programs, continuing education for therapists, and services sold to colleges, such as OculusIT, a managed IT and security provider for more than 200 campuses.

Avathon puts $10 million to $50 million of equity into each deal and will take either a majority or a minority stake. It looks for established companies with proven demand and a clear route to profitable growth, and it often recruits an experienced chair or chief executive to work alongside the founder. It has made 17 platform investments, the latest being My Hot Lunchbox in 2026. A smaller education business can also fit as an add-on, as Summit Professional Education has shown with two acquisitions since 2025.

Recent deals

Announced in the 24 months before October 27, 2026.

Date	Company	Type	Sector	Source
Sep 2026	My Hot LunchboxFounder-owned service that runs outsourced school lunch programs through local restaurants; Avathon's 17th platform	Platform	Education	Source
Jul 2026	Kids Bowel & BladderPediatric pelvic health continuing education provider added to Summit Professional Education	Add-on	Education	Source
Aug 2025	Herman & Wallace Pelvic Rehabilitation InstituteSeattle pelvic health clinician education provider added to Summit Professional Education	Add-on	Education	Source
Apr 2025	OculusITManaged IT and security provider to more than 200 colleges and universities, bought from ElevenX Capital; CEO stays on	Platform	IT Services & MSP	Source
Feb 2025	Yellow Brick Road Early Childhood Development CenterFounder-owned network of 25 early childhood centers in Minnesota, Nebraska and Iowa; CEO stays on	Platform	Education	Source

Portfolio by sector

From the firm's portfolio page S3.

Globalization / Learner Experience

Amerigo

Learner Experience

Galileo Learning
Magical Beginnings
My Hot Lunchbox
Yellow Brick Road Early Childhood Development Center

Partnering / Globalization

Academic Programs International
Shorelight

Technology / Learner Experience

OculusIT

Technology / Workforce / Partnering

ReUp

Workforce / Learner Experience

Summit Professional Education

Workforce / Partnering

Edvance

Past investments: Big Blue Marble Academy, EdCast, Hudson Global Scholars, NRCCUA, Panopto, Reading Plus

Greymont’s take

How Avathon Capital fits a seller

Avathon suits owners of education businesses who want a buyer that already knows their market: child care networks, K-12 service providers, continuing education companies, and firms that sell services to colleges. Owners of IT service providers fit only if their clients are schools or universities, since OculusIT is Avathon's one IT platform and it serves higher education.

Deals often leave the founder involved while Avathon adds outside talent. At Yellow Brick Road the chief executive stayed on and Avathon formed a new board, while at My Hot Lunchbox the founder moved to the board and an experienced education executive became CEO. Because Avathon can take a minority stake, an owner who is not ready to give up control may still fit. Owners should ask whether Avathon expects to bring in a new CEO and how long it plans to hold the company.

Questions owners ask

How much does Avathon Capital invest?

Its criteria page says it typically puts $10 million to $50 million of equity into a company, taking either a majority or a minority stake in established businesses with a clear path to profitable growth.

Does Avathon Capital buy IT services companies?

Only ones that serve education. In April 2025 it bought OculusIT, a managed IT, security and enterprise application provider to more than 200 colleges and universities, from ElevenX Capital.

Was Avathon Capital part of Sterling Partners?

Yes. It started in 2015 as Sterling Partners' Education Opportunity Fund, renamed itself Avathon Capital in 2019, and said in its 2025 annual report that it had become an independent firm.

Does the owner stay involved after Avathon invests?

Often. Yellow Brick Road's chief executive kept running the company after the 2025 deal, and the founder of My Hot Lunchbox joined the board when a new CEO was named in 2026.

Sources

S1Avathon Capital home page Accessed October 27, 2026
S2Avathon Capital: How We Invest Accessed October 27, 2026
S3Avathon Capital: Portfolio Accessed October 27, 2026
S4Avathon Capital Launches with Over $400 Million of Assets Under Management (December 9, 2019) Accessed October 27, 2026
S5Avathon Capital Named to Inc.'s Founder-Friendly Investors List for Third Consecutive Year (October 28, 2025) Accessed October 27, 2026
S62025 Avathon Advantage Report (November 6, 2025) Accessed October 27, 2026
S7Avathon Capital Acquires OculusIT from ElevenX Capital (April 28, 2025) Accessed October 27, 2026
S8Avathon Capital Welcomes My Hot Lunchbox as 17th Platform Investment (September 8, 2026) Accessed October 27, 2026
S9Avathon Capital Acquires Yellow Brick Road (February 6, 2025) Accessed October 27, 2026
S10Summit Professional Education Acquires Kids Bowel & Bladder (PR Newswire, July 16, 2026) Accessed October 27, 2026
S11Monroe Capital Supports Summit Professional Education's Acquisition of Herman & Wallace (August 20, 2025) Accessed October 27, 2026
S12Avathon Capital: News & Insights Accessed October 27, 2026

Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Avathon Capital. Figures are as reported on the dates shown and may have changed. Request a correction