Falfurrias Capital Partners has acquired a controlling interest in American Safety Council (ASC), a provider of e-learning training services. Falfurrias Capital has been targeting investments in the e-Learning training services industry and ASC represents the firm’s first investment in this sector.
American Safety Council is a provider of e-learning training services to address transportation and workplace safety, testing, medical continuing education and other regulatory-driven training on behalf of government, institutions of higher learning, business and industry, and individual clients. The company provides its training services to over 750,000 individual users annually. ASC, led by CEO Jeff Pairan, was founded in 1993 and is based in Orlando (www.americansafetycouncil.com).
“Falfurrias Capital Partners is pleased to announce this strategic partnership with Jeff Pairan and ASC,” said Marc Oken, Co-Founder & Managing Partner. “Jeff and his management team have done an outstanding job of growing ASC’s business, and we look forward to working with them to build on that success and help ASC realize its exciting growth potential by broadening its capabilities and expanding into new markets.”
Falfurrias Capital Partners makes equity investments of at least $3 million in companies with revenues in excess of $10 million and EBITDAs in excess of $2 million. Industries of interest include financial services; consumer products; health care; building products; diversified manufacturing; business services; education, training, and information services; and infrastructure services. Falfurrias was founded by former Bank of America Chairman and CEO Hugh McColl Jr. and former Bank of America CFO Marc Oken. The firm is based in Charlotte, NC (www.falfurriascapital.com).
“American Safety Council is proud of our track record of innovation, including many industry firsts, as well as our commitment to excellent customer care,” said Mr. Pairan. “We are excited about this partnership with Falfurrias Capital Partners, which will provide deep operational expertise and other resources to keep ASC at the forefront of our industry and continue to provide superior e-Learning solutions for both new and existing customers. This investment will also help ASC strengthen its partnerships with state and federal regulatory agencies and ultimately enhance our ability to quickly introduce new products and services for our partners and clients.”
© 2014 PEPD • Private Equity’s Leading News Magazine • 5-13-14