Education finance firm Nelnet Inc. acquired Student Marketing Group Inc. and National Honor Roll LLC on March 29 for a purchase price between $31 million and $51 million, based on the performance of the acquired companies.
Student Marketing Group, Lynbrook, NY, and National Honor Roll will operate as wholly owned subsidiaries of Nelnet with each company retaining its brand identity, management and employee base.
Student Marketing Group helps direct marketers reach the middle school, high school, college-bound high school, college and young-adult marketplace. Its College Bound Selection Service provides marketing services and college-bound-student lists to college and university admissions offices. The firm also operates AllScholar.com, a free scholarship search Web site.
National Honor Roll publishes the National Honor Roll Commemorative Edition recognizing middle and high school students for exceptional academic success. It also provides notice to local newspapers and elected officials.
In conjunction with the acquisition, Student Marketing Group founder and president Jan Stumacher purchased 141,376 restricted shares of Nelnet's Class A common stock in a transaction that closed March 31.
Nelnet, Lincoln, NE, offers student loan and financial services as well as technology-based products to facilitate the student loan process. More information on the company can be found at www.nelnet.net.
Kristen Bremner covers list news, insert media, privacy and fundraising for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters