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ACT Completes Formation of Public Benefit Corporation and Partnership with Nexus Capital Management

Company will transform college and career pathways for students, educators, and employers

IOWA CITY, Iowa — ACT, Inc., the mission-driven provider of the assessments, research, and work-ready credentials designed to support education and workplace success, today announced that it has completed its formation of a new Delaware public benefit corporation and closed on its partnership with Nexus Capital Management, a Los Angeles-based private equity firm.

Janet Godwin will continue as CEO of the new company, which will be known as ACT Education Corp. (temporarily known as Impact Asset Corp.). The new public benefit corporation combines ACT and Encoura, an education data science and research organization that was a wholly owned subsidiary of ACT. ACT Education Corp. will maintain all of its current offerings, including its flagship ACT college and career readiness assessment, and continue to offer its readiness assessments, enrollment insights, and workforce credential solutions to its thousands of partners globally.

“Today marks the beginning of a new era for ACT,” said ACT CEO Janet Godwin. “Students, job seekers, and educators around the world will benefit from the new products, solutions, and services that we will create to better meet the needs of people at any stage in their education or career paths. Our goal is to help more students be ready for their postsecondary paths, and help more adults advance in their careers.”

In addition to Damian Giangiacomo and Evan Glucoft of Nexus Capital, other board members of ACT Education Corp. will include Bethlam Forsa, CEO of Savvas Learning; Steven Tapp, an expert with significant experience in the assessment industry; Jamie Merisotis, president and CEO of Lumina Foundation; and Janet Godwin.

The continuation of an Iowa nonprofit organization, headquartered in Iowa City, is being partially funded by proceeds from the transaction. Over the next year, the nonprofit will determine a name, its full structure, and provide details on its charitable mission.

Macquarie Capital acted as exclusive financial advisor to ACT, and Morrison & Foerster LLP served as ACT’s legal advisor. Nyemaster Goode P.C. and Polsinelli PC also acted as legal advisors to ACT. Milbank LLP acted as legal advisor to Nexus Capital Management LP.
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

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