Riverside Gets the Job Done, Invests in Employment Law Training January 18, 2011
Download Full Press Release
Latest Acquisition Provides Workplace Ethics and Compliance Education
January 18, 2011 – The Riverside Company has partnered with management to acquire Employment Law Training, Inc. (ELT), a provider of workplace ethics and compliance eLearning solutions. ELT joins a growing slate of education and training companies in Riverside’s portfolio, and is one of more than 20 lifetime investments the firm has made in the industry.
ELT, based in San Francisco, serves employers in virtually every industry, and counts many global and Fortune 500 firms in its rapidly growing client roster. Founded in 1997 by the preeminent employment and labor law firm Littler Mendelson (Littler), ELT specializes in providing employee training on key state and federal employment laws that mandate broad-scale, repetitive workplace education.
ELT will continue its long-term, exclusive partnership with Littler, working hand-in-hand with the firm’s most experienced attorneys to develop proprietary course content, shape product strategy and predict cutting-edge industry trends. Littler senior shareholder and ELT founder Garry Mathiason will continue to serve on the ELT Board, along with former Littler attorney and current ELT President & CEO Shanti Atkins.
ELT uses cutting-edge technology to create interactive video-based programs that engage employees with compelling, story-based learning. Its innovative programs are available online 24/7 either through ELT’s Learning Management System or through third-party systems. Employers can automatically track and report on individual employee training and certification, which demonstrates compliance and helps provide a powerful legal defense in the event of litigation.
“ELT represents the cream of the crop in online workplace compliance training,” said Riverside Managing Partner Loren Schlachet. “Their partnership with Littler and unrivaled reputation make the company an ideal platform for growth. With employers facing a tidal wave of compliance challenges, government regulation and private litigation, ELT’s unique training solutions are in the highest demand and the company is poised to lead the market.”
“Riverside’s incredible operating expertise, resources and proven track record of success will allow us to realize our vision for growth at ELT,” said Shanti Atkins, President & CEO of ELT. “We chose Riverside because of their commitment to truly nurturing entrepreneurial businesses, as well as their sterling reputation for both success and integrity.”
Working with Schlachet on the transaction for Riverside were Joe Lee, Principal, Dan Haynes, Senior Associate, John McKernan, Analyst, Steve Rice, Analyst as well as Jeff Goodman, Operating Partner and Mary Anne McLaren, Finance Director. The deal was sourced by Robert Landis of Riverside's Origination group.
Deerpath Capital provided financing, Jones Day was the legal advisor and RSM McGladrey provided financial due diligence. For ELT, Morgan Keegan Technology Group acted as financial advisor and Goodwin Procter as legal counsel.
The Riverside Company (http://www.riversidecompany.com or http://www.riversideeurope.com)
The Riverside Company is a global private equity firm focused on acquiring growing enterprises valued at up to $200 million (€200 million in Europe). The firm partners with strong management teams and enhances its investments through acquisitions and organic growth. Since its founding in 1988, Riverside has invested in more than 245 transactions with a total enterprise value of more than $5.4 billion/€4.4 billion. The firm’s portfolio in North America, Europe and the Asia Pacific region includes 73 companies with roughly 13,000 employees. Riverside completes acquisitions smoothly thanks to $3.4 billion/€2.7 billion in assets under management, more than 195 professionals in 19 offices, and longstanding relationships with partner lenders.
North America and Asia Pacific
Director of Marketing and Communications
The Riverside Company
Assistant Director of Marketing and Communications
The Riverside Company