Riverside Stays OnCourse In Growing Platform November 12, 2012
Digital University Added to OnCourse Learning
Completing its second acquisition of 2012, OnCourse Learning (OnCourse), a portfolio company of The Riverside Company, has added Digital University, an online bank and credit union regulatory compliance training expert. The deal adds a new industry to the training offerings of OnCourse, a provider of professional training for multiple industries.
Digital University is based in San Diego, California, and provides comprehensive courses covering more than 300 topics for its more than 1,000 bank, credit union and utility clients.
The acquisition is the sixth add-on to OnCourse. The other additions to OnCourse were QuickCert.com (2007), American Home Inspectors Training Institute (2007), TrainingPro (2008), ProSchools (2010), and CompuTaught (2012).
“Financial institutions face a complex and increasingly demanding regulatory environment,” said OnCourse CEO Patrick Sheahan. “We see a strong growth future for this area of training, and we’re thrilled to be acquiring such a strong player in the field.”
Digital University provides courses covering all aspects of financial services, including regulatory compliance, customer service, back office, and management skills. The courses are engaging and consistently updated, ensuring high-quality content and an exceptional user experience.
“Digital University is a perfect fit for OnCourse,” said Riverside Managing Partner Loren Schlachet. “It offers an outstanding set of courses and has a deep and valuable customer base. Digital University is a highly complementary addition to OnCourse.”
Digital University is Riverside’s 28th acquisition in its education and training specialization. It is one of several specializations where the firm has deep experience, dedicated teams of experts, and resources to drive growth.
Working on the transaction with Schlachet from Riverside were Principal Brian Sauer, Associate Grady McConnell, Operating Partner David Logan and Finance Director David Pecore.
US Bank provided financing for the transaction. Jones Day provided legal counsel on the transaction, and McGladrey provided accounting due diligence.
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 more than 300 transactions. The firm’s international portfolio includes more than 70 companies.