Mayberry Investments recently signed a private equity deal with virtual learning platform EduFocal, seeking to assist the e-learning company with securing capital to boost its hopes of facilitating local and international expansion. The partnership will see Mayberry, a full-service financial advisory and brokerage firm, gaining a minority stake in the online educational services business.

Mayberry’s chief executive officer (CEO) Gary Peart, elaborating on the rationale behind the partnership, described EduFocal as one of those creative businesses that can transform lives and communities. As a result, he said that this would help his company to drive investments that will contribute to initiatives that foster active learning, which is essential for the growth and development of children and communities.

“At Mayberry, we continually seek out opportunities and avenues to contribute to these communities. In doing so, we have discovered a new way through our partnership with EduFocal to continue to give back to those communities that birthed us,” he said.

Christopher Berry, executive chairman at Mayberry Investments, also noted that the investment made was for education, the country, and a young entrepreneur.

“That’s what we love to do, get in early, and help companies to grow. My dream for EduFocal, which is our first investment directly in education, is that it will grow to provide education to kids not just at the PEP level but hopefully beyond that. Mayberry is always on the lookout for investments; we do private equity, we have a very active arm in private equity,” he added.

Berry urged similar businesses that may have the potential to grow and are thinking of other forms of investments at the pre-public phase to look to his company for assistance.

“Our criteria is straightforward: We are looking for great managers with good ideas that will create new opportunities, who want to collaborate with the wider community and have a vision for growth. We are not interested in investing in businesses that cannot make US$1 million in five years,” he said.

EduFocal co-founder and CEO Gordon Swaby, in commenting on the deal, said that Mayberry had been chosen to be a partner with his company based on its excellent track record in helping up-and-coming companies.

“EduFocal’s growth continues at an exponential pace, and I believe that a strong partnership is essential for sustained success. Mayberry Investments’ stellar track record in business, combined knowledge and expertise will better equip us for the way forward,” he said.

Swaby noted that while his company has future hopes of going public, the primary aim is to expand the business and extend opportunities to students in the short, medium, and long term.

“An initial public offer (IPO) is something that we are interested in, but in terms of a timeline, I can’t speak to that right now,” the CEO shared, while noting that when the time was right, the venture will be undertaken and will also possibly allow prospective students and parents the chance to buy into the vision.

In speaking to the company’s growth prospects, he opined that the platform could also grow outside of Jamaica.

“We are not just a PEP platform. We certainly want to facilitate other exam types in the future, and with the support of Mayberry, we know that it will be a possibility.

“Unlike brick and mortar businesses, EduFocal is very nimble. As an intellectual property (IP) company it’s very easy for us to expand our offering to other territories. We are looking forward to expanding regionally and internationally over the next couple of years,” he stated.

He further said that, given the impact of the novel coronavirus disease on the education system, “EduFocal is well-positioned to play a major part in how Jamaica’s education sector is improved upon in the coming years”.