Here’s a look at two select Gryphon portfolio company case studies—evidence of the firm’s strategy and strength, including our focused efforts around partnering with management teams, optimizing operations and pursuing strategies that cement market leadership.
Delta Career Education Corporation
Delta Career Education Corporation was formed as a result of Gryphon’s Proactive Evolving Sector Initiative and Exclusive Executive Alliance in the post-secondary education sector. The proprietary post-secondary education market represented a $28.3 billion market that has experienced 15% per annum industry growth rates since 2004. The proprietary post-secondary education market is also highly fragmented with 2,900+ institutions with the average revenue and enrollment per institution of approximately $10 million and 750 students, respectively. Since the initial investment, Gryphon has recruited a national caliber CEO, who brought a professional, metrics-driven and human capital-building approach to the organization based on his leadership roles in both strategy consulting and operations management, opened 13 de novo campuses to drive organic growth, and successfully integrated four acquisitions. Currently, Delta has 40 campus locations in 13 states and provides post-secondary education to approximately 18.000 students.
Intelligrated is an example of Gryphon’’s “buy and build” strategy, starting with a proactive initiative within the logistics industry to building a leading competitor in the automated material handling space in partnership with management. Intelligrated grew organically from zero revenue in 2001 to the #3 U.S. market position due to a superior product line and customer service focus, then achieved the #1 position in 2009 with the acquisition of Logistex.
Gryphon helped ensure that great care was taken in determining how to create the most effective combined organization at Intelligrated, leveraging the strong talent on both sides as well as ensuring that key customers were seamlessly covered from day one. The integration effort also included development of a long-term strategic plan for the combined company. For the Distribution and Fulfillment division, the plan addressed means to improve margins, maximize the lifetime value of the installed base and pursue international opportunities.