New York, NY (April 20, 2011) – School of Rock, the national leader in music education, received an additional $3.5 million investment from its financial sponsor and majority shareholder, Sterling Partners. The Company will use the funds to accelerate its North American expansion. School of Rock has grown dramatically over the last 15 months by building greater public awareness of the power of its performance based approach to music education. Today, the Company has almost 70 schools across North America serving over 6,500 students and several thousand campers signed up for a School of Rock Summer Camp.
“This is an exciting time for our business. We have more locations and more students than any other time in the history of our company and each day brings a new milestone,” said Chris Catalano, Chairman and CEO. “We are fortunate to have such a strong investor in Sterling Partners. Their commitment enables us to execute our growth plans and ensure the highest quality support for our operating partners.”
School of Rock has a large and passionate customer base. For more than ten years students have been learning music by playing music. The proprietary, performance-based curriculum teaches kids to play rock music in a unique and interactive way with programs designed for all skill levels. School of Rock takes students from the classroom to the stage, developing their music skills and appreciation while also instilling a strong sense of self confidence, providing camaraderie and pairing kids with mentors they truly admire and respect. The extremely talented faculty, most of whom are professional rock musicians, create an enriching educational and cultural experience that is fun for kids and helps them to flourish as musicians and as people.
“We are thrilled to have the opportunity to support School of Rock in its next phase of growth,” said Shoshana Vernick, Principal at Sterling Partners. “School of Rock’s management team has a track record of success and we share the company's passion for inspiring kids through the great performance based curriculum and exciting social experiences.”
For franchise owners and investors, the global growth opportunities are extremely attractive. School of Rock franchisees are able to turn their passion for music into a successful business with a purpose – to inspire kids to rock on stage and in life.
“My partners and I just opened a School of Rock in Philadelphia, and we’re really pleased with the whole approach and the Company’s support for the brand and the business,” said Dennis O’Keefe.
Students shine during performances throughout the year playing shows at theaters, festivals, and top music venues around the country. The Guest Professor Program, gives students the opportunity to learn and play with amazing artists including Steve Howe, Earl Slick, Mike Watt and bands like Coheed & Cambria, to name a few. School of Rock’s AllStar program takes the top students from across the country and gives them the opportunity to tour regionally during the summer and play at significant music festivals like the Hang Out Music Fest with Widespread Panic, Foo Fighters, and Paul Simon.
As School of Rock’s global community continues to grow, they are actively seeking qualified multi-unit and single unit franchise owners. The ideal candidate has an interest in business, a passion for music, and a desire to mentor youth and is looking to transition into a career that reflects their values, interests and experience. This new round of funding will support School of Rock’s ambitious growth strategy and plans to reach more children around the country and around the world in coming years.
About School of Rock:
School of Rock has been teaching kids how to amaze audiences for more than 10 years. We believe the best way to learn music is to play music. We get students from the lesson room to the stage, developing both their confidence and musicianship with programs designed for all skill levels. School of Rock operates 69 schools in 25 states and Mexico, with two new locations coming this summer in Port Jefferson, NY and Annapolis, MD. We are expanding rapidly to meet the demands of kids who want to play music and parents who appreciate music education. With opportunities available nationwide, it’s an exciting to become a SoR Franchisee! For more information about School of Rock, please visitwww.SchoolofRock.com.
About Sterling Partners:
Sterling Partners is a leading private equity firm with over 25 years of experience partnering with entrepreneurs to build market-leading businesses and generate superior returns. With approximately $4 billion of assets under management, Sterling invests growth capital in industries with positive, long-term trends and provides ongoing support to management through a dedicated team of industry veterans, operators, strategy experts and human capital professionals. Sterling Partners is a leader in education, healthcare and business services and has offices in Chicago, Baltimore, and Miami. For more information, please visitwww.sterlingpartners.com.
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