BALTIMORE (AP) - A private school in Baltimore has sold its century-old distance learning business to a private equity firm.
The sale was announced Wednesday by the Calvert School, a private, pre-kindergarten through eighth grade day school.
Terms of the sale of Calvert Education Services to the group led by Baltimore-based Camden Partners were not released. Camden Partners Chairman David Warnock said that the investment group bought CES following a competitive bidding process. Warnock, a former CES board chairman, says CES has a reputation as a leader in home schooling and online education.
School spokeswoman Stephanie Coldren says the school's board decided the sale will ensure the long-term financial stability of the school as well as simplifying management and oversight of the school while strengthening CES.