Riverside Takes A Seat, Acquires Australian eLearning Specialist November 07, 2012
Learning Seat Joins Global Portfolio
The Riverside Company has acquired Learning Seat, a Melbourne, Australia-based developer and provider of eLearning courses. With offices in Melbourne, Sydney, Brisbane and Adelaide, the company delivers its compliance and professional development training to corporate, healthcare, and government clients. The company had been a division of News Limited.
Learning Seat is the third platform investment for Riverside in Australia. The company’s online courses, training tools and eLearning resources are geared toward compliance, professional development and accredited training. Learning Seat also develops customized online courses for clients.
“With our deep experience in the education & training sector, we are confident that we can accelerate expansion at Learning Seat,” said Riverside Principal Brad Lynch. “We identified numerous growth opportunities during due diligence, and have the team and resources to capitalize on them.”
Riverside’s Education & Training Specialization includes 33 lifetime investments, backed by a global team of dedicated expert resources. In addition to deep experience in the industry, Riverside has completed multiple carve-outs from corporations like General Electric and Siemens.
“We believe the eLearning industry in Australia is relatively young, and poised for a strong future,” said Riverside Partner Simon Feiglin. “We are building a plan for Learning Seat that includes new product development, expanded sales and marketing efforts, and leveraging Riverside’s global connections and talent.”
Working with Feiglin and Lynch on the transaction for Riverside were Senior Associate Steven Spiteri and Associate Jonathan Shin. The Wingate Group sourced the opportunity for Riverside and also partnered with Riverside in providing equity financing for the transaction. The Commonwealth Bank of Australia provided debt financing for the transaction.
The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $200 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in 300 transactions. The firm’s international portfolio includes more than 70 companies.