TargetX, a portfolio company of Quad Partners, has been sold to Liaison International

TargetX’s leading recruitment and retention tools, combined with Liaison’s market-leading application and enrollment marketing solutions, will offer campuses an unmatched, single provider for full student lifecycle management. The combined offering will continue to help colleges and universities transform and modernize the way they support their prospects, students and alumni.

Together, Liaison and TargetX will serve well over 30,000 programs across nearly 1,500 campuses, including undergraduate, graduate and community colleges.

George Haddad, Liaison’s Founder and CEO, stated, “We are excited about TargetX joining the Liaison family. Their proven solutions in student recruitment and success, supported by an exceptional and knowledgeable cadre of staff, will help fulfill our common vision of a comprehensive life-long learners lifecycle.”

Tom Burgett, Managing Director and head of education technology at Lincoln, added, “We are very pleased to have advised on this transaction, helping TargetX and Quad Partners assess strategic options and find a long-term partner for the business. The quality of the company and management team were readily apparent, resulting in significant interest in the business among both strategic and financial investors. We look forward to seeing TargetX continue to serve a large and growing customer base as part of the Liaison family.”

Lincoln acted as the exclusive investment banking advisor to TargetX, working closely with the company’s management team and shareholders throughout the sale process. Terms of the transaction were not disclosed.

About TargetX
TargetX is a higher education customer relationship management (CRM) company that provides an enterprise-wide solution to help colleges manage relationships with their most important constituencies, including prospective students, current students, alumni and potential donors. The company’s enterprise CRM is built on the powerful development platform of — the worldwide leader in CRM and a pioneer in cloud computing. With its 15-year reputation for innovative technology and industry expertise, TargetX has become one of the most trusted CRM providers in higher education. To learn more, please visit

About Liaison International
Over the last two decades, Liaison has helped over 31,000 programs on more than 1,100 campuses more effectively manage admissions through its Centralized Application Service (CAS™) technology and complementary recruitment marketing, processing and support services. Partnering with over 30 professional associations, the company has developed discipline-wide services for a range of fields, including most of the health professions, as well as engineering (EngineeringCAS), graduate management education (BusinessCAS), graduate education (GradCAS), psychology (PSYCAS) and architecture (ArchCAS). To learn more, please visit

About Quad Partners
Quad Partners is a private equity firm committed to creating long-term value by investing in and building high-quality education companies. Founded in 2000 by Lincoln Frank and Daniel Neuwirth, Quad has managed approximately $800 million over its history. Since its inception, Quad has invested in more than 60 education companies, either as platforms or add-on acquisitions. To learn more, please visit

Quad Partners TargetX Liaison 2020 Connect with a Senior Team Member
Lincoln's market knowledge and guidance throughout the process helped us find the right long-term home for TargetX and all of our customers, employees and partners.
Sasha Peterson
CEO of TargetX

Meet our Senior Team

Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.