BDG Partners/The Business Development Group Acquires 30% of College Nannies & Tutors, Inc.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--April 5, 2004 Peter Lytle, Managing Partner of The Business Development Group announced that his firm has acquired a 30% position in College Nannies & Tutors, Inc. College Nannies & Tutors, Inc. (CN&T) provides parents with part-time and full-time nannies and in-home and at school tutors from a national population of college students and recent college graduates. Founded in 2001 by Joe Keeley, the winner of the 2003 Global Student Entrepreneur entrepreneur (än'trəprənûr`) [Fr.,=one who undertakes], person who assumes the organization, management, and risks of a business enterprise. Award, College Nannies & Tutors is preparing to move into a national L.L.C. expansion this summer. The Business Development Group will also be providing CN&T expansion capital, management, planning services and screening investment partners. The Business Development Group is a well-known Wayzata, Minnesota Wayzata (pronounced /waɪ.'zɛ.ɾə/) is a west suburb of Minneapolis located in Hennepin County, Minnesota, United States. Wayzata came into existence in the center of Chief Shakopee’s Indian village. consulting and investment firm that specializes in strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. , turnarounds and venture investing venture investing The acquiring of a stake in a start-up company by a brokerage firm or analyst by obtaining discounted, pre-IPO shares. Critics claim venture investing causes analysts to have a vested interest in seeing a stock appreciate in value and so . The Company was listed as one of the top 10 newsmakers in 2002 for its bid on Fingerhut and is well known for some of its previous acquisitions including Promo pro·mo n. pl. pro·mos Informal A promotional presentation, such as a television spot, radio announcement, or personal appearance. Piatto (Borden Pasta While the only basic difference between these names is the shape of the pasta, each pasta is typically matched with a particular sauce based on cooking time, consistency, ability to hold sauce, ease of eating, etc. Plants), United Shipping & Technology and North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Heritage Brands. Peter Lytle stated, "We are delighted to be part of this business. The concept of providing bright, young, and responsible college students and graduates as nannies, tutors and role models for children and parents is a new alternative for the market. We believe that this concept and all the process that College Nannies & Tutors have developed make it an ideal concept to rollout across the US. For individuals that are interested in being part of an organization like this, need a strong brand name, solid systems and an easy and profitable business model -- College Nannies & Tutors offers all three." Joe Keeley, President of CN&T said, "Having access to the experience of the Business Development Group team, capital and use of the Predictive Modeling Process they offer will give us the momentum we need for rapid growth. We are really excited about this relationship." |
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