Terms were not disclosed.
CoreTrust, another group purchasing organization, says in a statement that this deal “represents a significant extension of its platform into a large and underserved community.”
In the aftermath of this acquisition, CoreTrust says, its supplier network will have an opening to what the company called “a new, high-growth member segment while accelerating value creation for constituents across both organizations.”
BuyQ helps more than 4,000 schools with procurement, including some 80 of the top charter schools in the country, according to the statement.
Those schools receive “access to competitively negotiated contracts with a curated group of trusted supplier partners across evolving classroom technology, essential supplies, facilities and furniture,” according to the statement.
CoreTrust says that charter and private schools have more “procurement autonomy” than do other educational operations, though charter and private schools often need more expertise and resources when it comes to supply — an obvious business opportunity for CoreTrust.
"This acquisition is about bringing together two organizations that share a fundamental commitment: helping mission-driven institutions redirect resources from overhead to their core purpose," said James Hallock, CEO of CoreTrust, in the statement. "By combining [BuyQ’s] specialized expertise with CoreTrust's scale, supplier relationships and technology infrastructure, we can help schools achieve outcomes that neither organization could deliver independently."
BuyQ will retain its brand and employees, according to the statement, with Daniel Casselli remaining as leader of the 12-year-old company.
CoreTrust launched in 2006 and has more than 125 pre-negotiated supplier contracts for a variety of industries. Earlier this year, CoreTrust signed contracts with Houston and Los Angeles.
