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May 14, 2014
Royall & Company and Hardwick-Day Combine to Provide Market-Leading Higher Education Recruitment Marketing and Financial Aid Optimization

Royall & Company, a portfolio company of Chicago-based CHS Capital™, has joined forces with Hardwick-Day, a leading higher education enrollment management consulting firm. Hardwick-Day will operate as a Minneapolis-based division of Richmond, Virginia-based Royall & Company. Together, the companies will offer an unrivaled scope of higher education recruitment marketing and financial aid optimization expertise to colleges and universities.

The two companies have a shared 50 years of experience helping college and university clients achieve their enrollment and financial objectives. Together, they will offer universities a more robust array of services across the full student recruitment and decision-making cycle, with a continued focus on producing outstanding results and a strong return on investment for their 400+ partner institutions. Clients will benefit from having access to a fully integrated, single-source partner who provides unmatched vision into the behaviors, preferences and desires of students and families, creating more predictability, reduced risk and less volatility in enrollment and net tuition revenue.

“The need for financial aid services continues to grow in the higher education market,” said Tom Formolo, Partner at CHS Capital. “The combined companies will now provide an unmatched level of full-cycle, custom-developed programs for reaching clients’ objectives.”

John Nester, President and CEO of Royall & Company, said, “We are thrilled to be joining forces with Hardwick-Day. Our shared passion for higher education and singular focus on client success make this a natural combination. Together, we bring an extraordinary breadth of expertise and analytical capabilities that will enhance our college and university partners’ ability to achieve their strategic enrollment and revenue goals.”

For more than 20 years, Royall & Company has been the leader in direct marketing recruitment. Royall helps enrollment partners achieve success by building relationships with prequalified students and their parents, growing and shaping future classes and increasing net tuition revenue. Royall further supports revenue generation on campus through custom advancement campaigns, which increase annual giving participation and engagement and build pipelines for major gifts. For additional information, please visit

CHS Capital is a Chicago-based private equity firm with 25 years of experience investing in the middle market. Through partnerships with strong management teams, CHS Capital aims to accelerate earnings growth and drive value creation through human capital initiatives, performance improvement actions and strategic growth activities. Throughout its history, CHS Capital has made investments in 395 businesses and invested $2.9 billion of capital. For additional information, please visit