The Palmer Group

Portfolio Companies

Salem University, LLC, operates Salem University (“SU”), a for-profit institution of higher learning with a tradition of academic excellence and innovation. Established in 1888, SU offers traditional and state-of-the-art online programs in business, education, and allied health. Regionally accredited for more than 50 years by HLC (Higher Learning Commission) the University’s programs can lead to an associates, bachelors or masters degree. SU’s scenic campus with over 100 acres in Salem, WV is nestled in a beautiful Appalachian Mountain range, called the Valley of Learning. The main campus offers housing and traditional campus athletics, clubs, and activities. SU participates in Division II NCAA Sports – only 16 other schools in WV are members of the NCAA – participating in 17 men’s and women’s sports. The online division maintains its administrative offices in Indianapolis, Indiana. The School of Education is NCATE accredited - the highest nationally recognized accreditation for Education programs. The University also offers nursing programs; the LPN and RN are accredited by the State of West Virginia’s respective nursing boards.

The University has a great alumni base – Senators, Governors, CEOs; NFL Super Bowl Champions, Hall of Famers, are all graduates of SU. (

Sold Portfolio Companies

Schiller International University was founded in 1964 by Dr. Walter Leibrecht for the purpose of providing American students with an educational experience in Europe while continuing their studies within the American educational model. In time, this original concept was broadened to include students from all over the world seeking an American study program in an international setting.

Geographically, campuses expanded into Europe and America. Demographically, over 100 different nationalities experienced the university’s vision of education. Schiller International University has campuses in Heidelberg, Germany; Madrid, Spain; Paris, France; and Tampa, Florida, USA. Online courses are also available for some of the university’s academic programs.

FIRE Solutions, Inc. is a corporate e-learning and e-compliance solutions provider focused on the financial services and insurance industries.

FIRE Solutions, Inc. is pleased to announce the acquisition of the CRDirect product line from PFPC, Inc. effective June 22, 2007. CRDirect is the premier provider of NASD registered representative licensing, management, analysis, and tracking tools to the securities industry. The addition of CRDirect to the FIRE Solutions portfolio of products enables FIRE to independently fulfill NASD registered representative licensing and tracking requirements.

(The sale of AEC and its affiliated schools to Education Management Corporation was The Palmer Group’s most significant sale at a profit of approximately $120 million)

American Education Centers, Inc. includes eight for-profit, proprietary junior colleges. They are AEC Southern Ohio College (with campuses in Akron, Ohio, Woodland, Ohio, and Fort Mitchell, Kentucky): RETS Institute of Technology (with campuses in Louisville, Kentucky and Pittsburgh, Pennsylvania); RETS Medical and Business Institute in Hopkinsville, Kentucky; and AEC Texas Institute (with campuses in Garland and Hurst, Texas).

Brown Mackie Education Corporation operates Brown Mackie College, a for-profit, proprietary junior college with campuses in Kansas City and Salina, Kansas.

Commonwealth Business College Education Corporation operates Commonwealth Business College, a for-profit, proprietary junior college with campuses in Merriville and Michigan City, Indiana, and Moline, Illinois.

Asher School of Business Education Corporation operates Asher School of Business a for-profit, proprietary junior college with a campus in Norcross, Georgia.

Stautzenberger College Education Corporation operates Southern Ohio College, a for-profit, proprietary junior college with a campus in Findlay, Ohio.

Michiana College Education Corporation operates three for-profit, proprietary junior colleges. They are Michiana College (with campuses in South Bend and Fort Wayne, Indiana) and Michiana Institute located in Cherry Hill, New Jersey.

Other Sold Portfolio Companies

Spikes’s Trophies Ltd. (Sold to Spikes General Partner, LLC), a company established by the existing management team. Spike’s is the leading supplier of trophies, awards, business gifts, and advertising specialties in the Delaware Valley. The company’s four retail showrooms, a manufacturing facility, and administrative offices are located in Philadelphia, Pennsylvania.

Financial Marketing, Inc. (Sold to ADP Financial Information Services, Inc.), a division of Automatic Data Processing a Fortune 100 Service Company. Financial Marketing was one of the largest independent providers of proxy processing and mailing services to mutual fund groups and public corporations.

American Payroll Centers, Inc. (Sold to Zurich Payroll Solutions Limited), a subsidiary of Zurich Insurance Co. American Payroll Centers was the largest independent payroll processing firm in the Delaware Valley of Pennsylvania.