Assignee|Exclusive Restructuring Advisor
Make School
About the Company
Make School was a private computer science college offering a Bachelor’s of Science degree in Applied Computer Science. The school’s computer science program became the first post-secondary program to receive accreditation under the incubation policy developed by the WASC Senior College and University Commission (WSCUC). The school’s faculty taught computer science courses through an established university partner, while that university’s faculty taught general education courses.
a portfolio company of
have been acquired by
Exclusive Restructuring Advisor
Situation
Despite the program’s popularity and high enrollment, the overhead required to run a college proved difficult, prompting the company’s management and board of directors to search for ways to exit.
Engagement
Make School engaged G2 to serve as assignee in an assignment for the benefit of creditors (“ABC”). This insolvency proceeding, which is governed by state statute, is a faster and cheaper alternative compared to bankruptcy. Upon launching the ABC, the Company’s board and management resigned, with select staff assisting in the ABC effort on a contract basis.
Outcome
As assignee, G2 immediately began an outreach campaign to find a buyer for the company’s intellectual property – including its coursework, brand, and source code. Dominican University of California purchased the curriculum and trademarks to repurpose the computer science program under its banner, allowing the program to live on.
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