IOWA CITY, Iowa — ACT, the mission-driven provider of the assessments, research, and work-ready credentials designed to support education and workplace success, today announced a new partnership with Nexus Capital Management LP, a Los Angeles-based private equity firm.

“Our partnership with Nexus Capital Management uniquely positions ACT to meet a watershed moment in our nation, as the demand for talent is growing and becoming more diverse. The need to prepare learners for success after high school for both college and work has never been higher, nor has the need to ensure that every learner has access to equitable college and career planning resources, guidance, and insights,” ACT CEO Janet Godwin said. “Partnering in this way will complement and amplify ACT’s proven platform of education and work readiness solutions to support the needs of students, educators, and employers alike. We will accelerate our plans to meet the needs of our stakeholders as they navigate an evolving and complex system to develop the essential skills critical for success in a rapidly changing world of work.”

“This partnership will create more pathways to degrees, credentials, and skills acquisition for people at any stage of their lives,” said Daniel A. Domenech, chairman of ACT’s board of directors and former executive director of AASA, the School Superintendents Association. “The time is right to move into the next phase of ACT’s long-term growth strategy alongside a partner with significant industry expertise, giving ACT the scale and capital necessary to deliver on its promise of education and workplace success.”

Upon closing, ACT and Encoura, an education data science and research organization that is a wholly owned subsidiary of ACT, will unify and operate as a public benefit corporation, with ACT’s name and brand. The integrated business, known as ACT, will advance the organization’s leadership in education and workforce readiness as it services the needs of all ACT stakeholders through new investments in ACT’s products and people. Godwin will continue to lead ACT as CEO of the new company.

Through integrating ACT’s systems of assessments and workforce solutions with Encoura’s data science and strategic enrollment services, ACT will be able to deliver holistic readiness credentials and more precisely connect students and job seekers to institutions of higher education and employers. ACT will simplify and streamline the college application process for students and institutions, better match employers with available talent, create new opportunities for upskilling mid- and late-career professionals, help learners identify their strengths and provide recommendations about applying them in education settings and the workplace, and provide more integrated and actionable insights to states, districts, families, and learners.

“We are excited to partner with ACT’s leadership team in this next chapter of growth to deliver enhanced capabilities for students, school districts, postsecondary institutions, employers, and government stakeholders,” said Damian J. Giangiacomo, co-founder of Nexus. Evan Glucoft, Nexus managing director, added, “The new ACT, through its diverse product offering, is well aligned with Nexus’ history of investing in companies focused on helping students succeed.”

Proceeds from the partnership will also fund the continuation of an Iowa nonprofit organization that will be headquartered in Iowa City. The nonprofit organization will conduct programs, services, and research focused on education and workplace success. The nonprofit will also retain an investment in the new public benefit corporation and have direct representation on ACT’s board of directors.

“ACT will always be driven by our mission, and this investment will allow us to accelerate delivery of impact solutions that are core to who we are — and always have been — including expanding access and opportunity for students,” Godwin said. “As a result of this investment, we will help more students be ready for their postsecondary paths, and help more adults advance in their careers.”

The transaction is subject to customary closing conditions.


About ACT
ACT is transforming college and career readiness pathways so that everyone can discover and fulfill their potential. Grounded in more than 65 years of research, ACT’s learning resources, assessments, research, and work-ready credentials are trusted by students, job seekers, educators, schools, government agencies, and employers in the U.S. and around the world to help people achieve their education and career goals at every stage of life. Visit us at www.act.org.