Warburg Pincus has agreed to sell the Association of Certified Anti-Money Laundering Specialists to Becker Professional Education, a subsidiary of DeVry Education Group, for $330 million. DeVry expects the company to generate fiscal 2017 revenues of approximately $40 million and will fund the purchase price through a combination of cash on hand and senior debt. The transaction is expected to close in July 2016.
Association of Certified Anti-Money Laundering Specialists (ACAMS) was acquired by Warburg Pincus in 2005. The company is the largest international membership organization focused on anti-money laundering and financial crime detection.
ACAM members – totaling more than 30,000 – include both public and private sector professionals including anti-money laundering officers; compliance officers; government regulators; law enforcement and intelligence agents; internal and external auditors; attorneys; accountants; and consultants among others. ACAMS provides it members with anti-money laundering services including advanced certification, subscription to ACAMS Today, international conferences, full day seminars, web seminars, and customized training. According to ACAM, its Certified Anti-Money Laundering Specialist (CAMS) is the most widely recognized anti-money laundering certification in the world.
ACAMS is headquartered in Miami with additional offices in New York, London, Paris, Tokyo, Hong Kong, Beijing, New Delhi, and Singapore (www.acams.org) (www.moneylaundering.com).
Becker Professional Education (BPE) is a provider of professional education to the accounting, project management and healthcare professions. BPE was founded in 1957 by Newt Becker and was acquired by DeVry (NYSE:DV) in 1996. The company is led by its president, John Roselli, and is headquartered in the Chicago suburb of Downers Grove, IL (www.becker.com).
Warburg Pincus has more than $40 billion in assets under management and has raised 15 private equity funds since its founding in 1966. In November 2015, the firm reached a final close of Warburg Pincus Private Equity XII, LP at the hard cap of $12 billion. Warburg Pincus is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo and Shanghai (www.warburgpincus.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-25-16
