Beacon Education, founded here, merges and secures $26 million of funding

Five months after pulling plans for an initial public offering, Beacon Education Management Inc., the charter school company founded here 10 years ago, has merged with another company and secured $26 million in funding.

Massachusetts-based Beacon merged last month with Chancellor Academies Inc. of Coconut Grove, Fla. The merged company, Chancellor Beacon Academies Inc., is now based in Coconut Grove. On Tuesday, Chancellor Beacon announced that a group led by Warburg Pincus and including Goldman Sachs Urban Investment Group and Zesinger Capital Growth has provided the new funding.