employee training

The Ariel Group, a portfolio company of Renovus Capital Partners, has acquired Better Communications.

Better Communications provides training services to improve the business writing of financial, technical, and scientific teams and consultants. The company was founded by Deborah Dumaine in 1978 and is based in the Boston suburb of Waltham, MA (www.bettercom.com).

“I’ve known The Ariel Group for two decades and have the utmost respect for their outstanding work, integrity, and customer service,” said Ms. Dumaine. “I can’t think of a better partner to expand our mission: clear writing for a complex world.”

The Ariel Group is a provider of training programs that teach leadership and communications skills to mid- and senior-level executives. Using techniques from the theater, Ariel trains managers on how to connect with their audience, whether it is a key client, a colleague or an employee. Customers include American Express, Capital One, Coca-Cola, Harvard Business School, Procter & Gamble, Thyssen-Krupp, and a mix of other Fortune 1000 corporations and MBA programs. The company is led by CEO Sean Kavanagh and is based in Lexington, MA (www.arielgroup.com).

This is the second add-on acquisition by The Ariel Group since being acquired by Renovus in October 2012. In October 2013, Ariel acquired The Baron Group, a provider of sales and sales management training programs to professionals in the banking, professional services, insurance, consumer products, manufacturing, technology, pharmaceuticals and advertising sectors. The Baron Group is based in Westport, CT (www.barongroup.com).

Renovus Capital Partners invests from $10 million to $30 million in education related companies that have $2 million to $10 million of EBITDA. The firm is currently investing its first fund, a $185 million SBIC fund focusing on small and mid-sized businesses within the education and training sector. Renovus was founded in 2010 and is based in the Philadelphia suburb of Wynnewood, PA (www.renovuscapital.com).

© 2016 Private Equity Professional • 9-1-16

Alchemy Systems, a portfolio company of The Riverside Company, has acquired Catalyst Awareness, a producer of employee-awareness communication programs.

Catalyst produces employee-awareness communication programs that address loss prevention, health & safety, and other programs for the retail and supply chain industries. Catalyst has more than 10 large, national retail customers, and offers a content library covering 100 topics ranging from workplace safety and loss prevention, to customer service. The company’s programs provide more than six million training sessions every year. Catalyst is based in Guelph, Ontario (www.catalystawareness.com).

“It’s easy to see why Catalyst has a healthy portfolio of loyal blue-chip customers,” said Riverside Partner Brian Sauer. “They have a compelling value proposition and a proven track record of results.”

Alchemy is a provider of food and workplace safety training for production workers. Companies use Alchemy to increase productivity, reduce food safety incidents, and lower compliance risk. Riverside acquired Alchemy Systems in January 2013. The company is based in Austin, TX (www.alchemysystems.com).

“Catalyst delivers proven training that produces tangible bottom-line results,” said Riverside Managing Partner Loren Schlachet. “This addition delivers a new customer vertical, but also proven techniques and capabilities that will benefit customers of both Alchemy and Catalyst.”

Working with Mr. Schlachet and Mr. Sauer on the transaction for Riverside were Assistant Vice President Stephen Rice, Associate Ryan Philyaw, and Operating Partner Rex Niles. Associate Director, Origination Cheryl Strom originated 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 320 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).

Deerpath Capital (www.deerpathcapital.com) provided financing for the transaction, Jones Day served as Riverside’s legal counsel, Deloitte advised Riverside on financial due diligence and West Monroe Partners advised on technology diligence.

© 2013 PEPD • Private Equity’s Leading News Magazine • 10-17-13