Boathouse Capital has partnered with the management team and employees of MIS Training Institute to acquire the US and UK operations of the company from its parent, Euromoney Institutional Investor PLC. The acquisition and carve-out was completed through the formation of an employee stock ownership plan.
MIS Training Institute was founded in 1978 and is a provider of professional education and training in the areas of internal audit, IT audit, and information security management. The company’s curriculum is delivered through live, in-person events including public seminars, in-house training, and conferences that are held throughout North America, EMEA (Europe, Middle East, and Africa), and Asia. MIS Training Institute is based west of Boston in Southborough, MA (www.misti.com).
“As a stand-alone entity and bolstered by Boathouse’s investment, MIS Training Institute will be able to accelerate its growth trajectory, dedicate additional resources to enhance its seminar curriculum, better attract and retain talent, add new conferences, and expand its library of on-demand webinar courses,” said Linda Burton, CEO of MIS Training Institute.
Boathouse Capital invests mezzanine debt and equity in lower middle market companies in partnership with management teams and private equity funds. Boathouse will consider investments from $3 million to $15 million in either mezzanine debt or equity capital in companies with EBITDAs of $2 million or greater. The firm is based near Philadelphia in Wayne, PA (www.boathousecapital.com).
“We are excited about partnering with the management team and believe the ESOP structure will align the organization to work together towards a common goal,” said Chong Moua, Partner of Boathouse Capital and a now a Director of MIS Training Institute.
Deerpath Capital (www.deerpathcapital.com) and CMS Mezzanine (www.cmsmezz.com) provided the senior and mezzanine financing for this transaction.
Berkery Noyes (www.berkerynoyes.com) advised MIS Training Institute and Euromoney Institutional Investor PLC. White and Williams represented Boathouse Capital.
© 2014 PEPD • Private Equity’s Leading News Magazine • 4-3-14
