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Greenhill Capital Partners and Abrams Capital Invest in FCC Holdings, Inc., A Leading Private Career College

LAUDERDALE LAKES, Florida, June 8, 2007 / PRNewswire — Greenhill Capital Partners, LLC (“Greenhill Capital”) and Abrams Capital, LLC (“Abrams Capital”) announced today the completion of an investment in FCC Holdings, Inc. (“FCC” or the “Company”), a leading accredited private career college, headquartered in Lauderdale Lakes, Florida. As part of the transaction, TA Associates, Inc., a leading growth private equity and buyout firm, sold its majority interest in FCC, an investment it made in 2004. Terms were not disclosed.

FCC owns and operates seven Florida Career College campuses located in the high-growth markets of Miami, Ft. Lauderdale, West Palm Beach and Tampa, Florida. The Company offers certificate, associate and bachelor degree programs in allied health, massage therapy, information technology, and business. FCC’s programs are designed to provide students first-class career training that leads to employment post graduation. FCC plans to continue to grow its business by introducing new programs, opening greenfield locations and making strategic acquisitions, consistent with its record of selective, focused growth.

Robert Niehaus and Kevin Bousquette of Greenhill Capital and David Abrams and Travis Rhodes of Abrams Capital have joined the board of directors of FCC.

FCC’s CEO David Knobel said, “This transaction provides FCC with ongoing support and access to future capital that will be critical to our continued growth. We look forward to our partnership with Greenhill Capital and Abrams Capital, as we believe the experience and talent that they bring to the FCC board will be invaluable.”

Kevin Bousquette, Managing Director of Greenhill Capital, said, “We have been analyzing opportunities in the education sector for several years and would like to allocate meaningful amounts of capital to the sector. The industry presents an attractive opportunity for a number of reasons, including its large and fragmented nature as well as several compelling macroeconomic trends, including the shift in the U.S. to a services-based economy and the growing wage premium earned by workers with a postsecondary education. We strongly believe that FCC is extremely well-positioned to capitalize on this secular growth.”

David Abrams, Managing Member at Abrams Capital, said, “We are highly impressed with the strength of FCC’s operating platform and the quality of FCC’s management team, which is capable of operating a much larger business. Abrams and Greenhill share a record of helping companies grow through organic activities combined with acquisitions. We look forward to working with CEO David Knobel, COO Erik Brummé, CFO John McDougall, and the rest of the management team as the Company enters the next phase of its growth.”

“We have enjoyed working with the talented management team at FCC,” said Jeffery S. Barber, a Managing Director of TA Associates. “The relationship has proven beneficial to all parties, and we are pleased with the growth of FCC over the past three years and with the investment return to our limited partners.”

BMO Capital Markets acted as the financial advisor to the Company and also acted as agent in arranging the debt financing for the transaction. LaSalle Bank acted as co-agent for the financing.

About FCC Holdings, Inc.

FCC has seven campuses that operate under the name Florida Career College. Founded in 1982 as a business school focused on information technology training, Florida Career College now offers programs in the fields of allied health, massage therapy, information technology and business. Programs are offered leading to certificates, associate degrees and bachelor degrees. The Company currently has enrollment of approximately 4,000 students. Known as “The College That Cares,” customer service and student success are guiding principles in the organization’s culture. For more information about FCC, please visit

About Greenhill Capital Partners

Greenhill Capital manages private equity funds with an aggregate of $1.6 billion in committed capital, with significant investments in the financial services, energy and telecommunications industries. Its publicly-traded portfolio companies include: Crown Castle International Corp. (NYSE: CCI), Heartland Payment Systems, Inc. (NYSE: HPY) and EXCO Resources, Inc. (NYSE: XCO). Greenhill Capital is an affiliate of Greenhill & Co., Inc. (NYSE: GHL), an independent global investment banking firm with offices in New York, London, Frankfurt, Toronto and Dallas. For more information about Greenhill Capital, please visit

About Abrams Capital

Abrams Capital was founded in 1999. Headquartered in Boston, the firm presently manages more than $3.5 billion in capital. Since 1999, Abrams Capital has invested in a wide range of public and private companies across a variety of industries. Abrams Capital has a long-term, value-based investment focus, with a preference for opportunities that allow investment alongside successful management teams with an owner-operator orientation.

About TA Associates

Founded in 1968, TA Associates is one of the largest and most experienced private equity firms. With offices in Boston, London and Menlo Park, the firm manages $10 billion in capital and has invested in more than 370 companies. TA Associates provides management buyout, leveraged recapitalization and growth equity capital primarily for technology, financial services, business services, healthcare and consumer businesses. More information about TA Associates can be found at

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