Eureka Closes New Fund IV Platform
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Eureka Closes New Fund IV Platform

Eureka Equity Partners has acquired Perfect Creation (DBA iPEC Coaching), a provider of training and certification services to the professional coaching industry.

iPEC provides continuing education and certifications to its students through both virtual and live training formats in 20 training locations in North America, Europe, and Asia. iPEC’s areas of specialization include training for life coaches, business coaches, coaching jobs, personal coaches, career coaches, leadership coaching, transformational coaching, and certified corporate coaches and mentors.

iPEC was founded in 1999 by Bruce Schneider and is headquartered near New York City in Shrewsbury, New Jersey and is accredited by the International Coaching Federation.

“As a highly sought after company, we were in a great position to be extremely selective in finding the right partner, and from moment one in our interactions, the Eureka team made it very clear to us that they were exactly what we were hoping for,” said Mr. Schneider. “We look forward to the continued interactions with Eureka and expect that their resources, knowledge base, and determination will ensure a continued history of exponential growth while, at the same time, truly enjoying the journey.”

Eureka partnered with iPEC’s senior management team on this transaction. “iPEC Coaching has always been focused on creating a tremendous and positive impact in the world,” said Joan Ryan, CEO of iPEC. “Selecting the right partner to help us grow that impact meant finding a group that was aligned with our values of integrity, community, honesty, and openness. Throughout the entire process, Eureka demonstrated those values along with a deep commitment to our team.”

Equity for the new investment came from the firm’s fourth fund, Eureka IV LP, which closed in October 2020 with $200 million of capital. In March 2020, Eureka acquired its first Fund IV platform with the buy of LegalPartners, a Chicago-headquartered outsourced provider of credentialed legal professionals to law firms and corporate legal departments.

“We are very excited to partner with CEO Joan Ryan and the rest of the outstanding team at iPEC in the next phase of the company’s growth,” said Chris Miller, a partner with Eureka. “iPEC’s proprietary content and unique pedagogy have combined to drive both professional and personal transformational development for its program participants. We look forward to supporting the company’s continued growth and expansion into complementary service lines to further support its highly loyal alumni base of over 15,000 graduates.”

Philadelphia-based Eureka Equity Partners makes control and non-control investments in companies with up to $100 million in revenue. Initial equity investments range from $10 million to $25 million but larger investments can be made with co-investment from the firm’s limited partners. Sectors of interest include business services, health care services, specialty manufacturing and consumer products.

© 2020 Private Equity Professional | November 23, 2020

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