ACT, Inc. to become for-profit, with investment firm collaboration

Iowa City firm will become ‘a type of for-profit company, under the ACT name and brand' IOWA CITY — ACT Inc. — long known for its standardized tests before more recently pursuing a broader mission of research, education and college and career readiness — this week announced a major collaboration with a large California investment firm, shifting the Iowa City-based ACT from a nonprofit to for-profit company. Upon closing the deal with Nexus Capital Management LP, a Los Angeles private equity firm, ACT and an education data research organization it...