Business Description:
American Institute of Technology ("AIT") provides professional truck driver training, including the skills necessary to acquire a commercial driver’s license and the knowledge required to have a successful career in truck driving. AIT was founded in 1981 and has focused exclusively on career truck driver training since 1991. The company has campuses in Phoenix and Las Vegas and is in the midst of a significant geographic expansion.

Falcon Solution:
In making its investment in the company, Falcon benefitted from the non-traditional private equity group’s deep industry expertise in post-secondary education in general and trucking schools in particular. Though counterintuitive, the challenges facing the trucking industry from the impeding economic slowdown created demand for graduates of truck driving schools, and AIT was uniquely positioned to take advantage of this demand by virtue of its accreditation, access to Title IV funds and strong strategic relationships with the leading carriers. Falcon invested in redeemable preferred stock with warrants.