OnCourse Learning, a portfolio company of The Riverside Company, has acquired Corporate Training Technologies (dba BankersEdge), a provider of bank and credit union training courses. OnCourse was acquired by Riverside in February 2007 and with the acquisition of BankersEdge has now completed 6 add-on acquisitions.
“BankersEdge has a wide array of courses and specialized programs, and they’ve proven very adaptable in a dynamic regulatory environment,” said Riverside Managing Partner Loren Schlachet. “This addition strengthens the position of OnCourse as an unparalleled provider of a wide variety of professional training and compliance solutions to the financial services market.”
Corporate Training Technologies (dba BankersEdge) provides regulatory, employment, and leadership training as well as compliance solutions for bank and credit union workers. Its courses are used for comprehensive training and regulatory updates by bankers, mortgage professionals and other financial services employees at institutions of all sizes. The company is based in Norristown, PA (www.bankersedge.com).
“BankersEdge has strong technical offerings and a stable of excellent customers,” said Riverside Principal Brian Sauer. “OnCourse has proven very scalable as we’ve added companies in the past, and we’re pleased to continue driving growth.”
OnCourse is a platform company established to build a multi-industry professional training provider. It currently consists of three companies: (i) American Home Inspector Training Institute provides pre-licensing training; (ii) Specialized Solutions is a provider of self-paced e-learning courses for IT professionals preparing for certification exams; and (iii) TrainingPro which provides mortgage education for brokers and loan officers. The company has offices in Waukesha, WI and Clearwater FL (www.oncourselearning.com).
Working on the acquisition of BankersEdge with Mr. Schlachet and Mr. Sauer from Riverside were Associate Ryan Philyaw, Operating Partner David Logan and Finance Director David Pecore. Origination Partner Robert Landis sourced the deal for Riverside.
The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”). Riverside specializes in investing in SEMM companies (those valued up to $250 million) and partners with management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in more than 310 transactions with a total enterprise value of more than $6 billion. The firm’s current portfolio includes more than 70 companies. The Riverside Company is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).
US Bank provided financing for the transaction. Jones Day provided legal counsel on the transaction, and Deloitte provided accounting due diligence.
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-6-13