Notes Growing Investor Interest in Professional Training Space
MILWAUKEE, March 4, 2014 – Today’s announcement that OnCourse Learning Corporation (“OnCourse”), a portfolio company of The Riverside Company, has been acquired by CIP Capitalmarks another successful transaction for Baird, an employee-owned, international financial services firm. Baird acted as the exclusive financial advisor to The Riverside Companyon the transaction. Terms of the deal were not disclosed.
OnCourse offers a wide variety of career-focused professional training programs in the financial services, real estate and IT industries, which help professionals and companies navigate regulatory training, certification and compliance requirements to ensure success and manage risk.
Investment bankers Andrew Snow and Daniel Alfe led the Baird deal team and say the transaction illustrates growing investor interest in the professional training space. They note other recent deals in the space, such as Inscape Publishing-Wiley, Global Knowledge-MidOcean, CSI Global-Moody’s, Wall Street Institute-Pearson, Vector Learning-LLR, and Ascend Learning-Providence.
Snow said, “With increased focus on accountability, persistent skill gaps in the U.S. labor force and attractive financial characteristics of the businesses that operate in this sector, investors continue to show a lot of interest in the professional training space. And as the online delivery models surpass traditional classroom delivery models, companies like OnCourse will be at the top of that list.”
Alfe added, “The costs and risks associated with non-compliance are so high, companies are willing to invest meaningful resources and hire third parties to help them manage that risk with proper training for their professional staffs. The demand for these services, particularly in industries like Financial Services, which hasn’t yet experienced the full regulatory impact of Dodd-Frank, will only increase in the future.”
The professional training space has been a meaningful and active part of Baird’s Business Services Investment Banking practice in recent months. The OnCourse deal is Baird’s fourth professional training M&A transaction in the past 24 months. Other recent deals include: Miller Heiman, Inc. sale to Providence Equity Partners LLC, UL (formerly Underwriters Laboratories, Inc.) acquisition of EduNeering, and UL (formerly Underwriters Laboratories, Inc.) acquisition of PureSafety.
About Baird’s Investment Banking group
Recognized as the 2011 “Investment Banking Firm of the Year” by The M&A Advisor, Baird is a leading global investment bank focused on the middle market. Approximately 250 investment banking professionals in the U.S., Europe and Asia provide corporations, entrepreneurs, private equity and venture capital firms with in-depth market knowledge and extensive experience in merger and acquisition and equity financing transactions. Since 2009, Baird has advised on 272 M&A transactions representing approximately $63 billion in transaction value and has served as lead or co-manager on 387 equity offerings raising approximately $112 billion. Baird has received “Deal of the Year” recognitions from The M&A Advisor for nine years running, demonstrating commitment to attaining great outcomes for clients.
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 2,900 associates serving the needs of individual, corporate, institutional and municipal clients. Baird has more than $100 billion in client assets. Committed to being a great place to work, Baird ranked No. 9 on FORTUNE’s 100 Best Companies to Work For in 2014 – its 11th consecutive year on the list. Baird’s principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s investment banking and private equity operations. For more information, please visit Baird’s Web site at rwbaird.com.
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