Revelstoke Capital Partners has completed the acquisition of Career Step, a provider of online training programs, from DW Healthcare Partners.
Career Step is a provider of online, career-focused training programs to the healthcare sector. The company’s courses are used to gain career skills and to prepare for certification testing. Career Step has trained over 85,000 students and has more than 150 partnerships with colleges and universities nationwide. The company is headquartered in Provo, UT (www.careerstep.com).
Revelstoke intends to accelerate the company’s organic growth as well as pursue add-on acquisitions. “We are enthusiastic about the prospect of working with an extremely talented and experienced management team to grow Career Step and further solidify its position as a leader in the online education and training industry,” said Mark King, CEO, Managing Partner and Co-Founder of Revelstoke. “Career Step’s programs are tailored to be cost effective and short in duration with the objective of conveying career specific skills, creating a compelling value proposition for its learners.”
Revelstoke invests from $10 million to $250 million in companies that have at least $5 million of EBITDA. Sectors of interest include healthcare services and products; transportation and logistics; specialty distribution; energy and energy services; building products; business and outsourced services; marketing services; financial services; industrial services; and medical technology. The firm is headquartered in Denver (www.revelstokecp.com).
Ally Corporate Finance (www.ally.com/corporate-finance) and Norwest Mezzanine Partners (www.nmp.com) provided debt financing for the transaction. William Blair & Company served as exclusive financial advisor and Paul Hastings acted as exclusive legal advisor to Career Step in the transaction. Hogan Lovells acted as exclusive legal advisor to Revelstoke.
© 2015 PEPD • Private Equity’s Leading News Magazine • 2-4-15
