New For-Profit Charter Chain Expanding, Buying Two Ohio Charter Chains

Diane Ravitch's blog

A new, for-profit charter chain named Pansophic is planning to take over charter chain schools in Ohio. The linked story was published in June, but there have been no follow-ups since then. Either the deal was completed or is pending.

Pansophic is a new company founded by Ron Packard, formerly of McKinsey, Goldman Sachs, and the online giant K12. As CEO of K12, Packard was paid $5 million yearly.

The company also expects to acquire charters run by for-profit Mosaica in Ohio. Pansophic will become the biggest for-profit charter chain in Ohio.

“Akron-based White Hat Management reportedly sold off management of 12 elementary charter schools Friday to an out-of-state, for-profit company that could acquire a third charter school company, an attorney for the charter schools’ public boards said.

“The two deals would make Pansophic Learning the largest for-profit operator of Ohio charter schools, which has become a taxpayer-funded $1 billion…

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