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CIP Capital Completes Investment in OnCourse Learning

14 Mar 2014

CIP Capital Completes Investment in OnCourse Learning Growth-oriented, sector-focused private equity firm to invest in leading provider of professional training and compliance solutions

March 4, 2014 – CIP Capital (“CIP Capital”) has completed a platform investment in OnCourse Learning Corporation (“OnCourse” or the “Company”). OnCourse Learning is a leading national provider of online training and compliance solutions to professional end markets. OnCourse helps both professionals and companies navigate regulatory training, certification and compliance requirements to ensure success and manage risk in their chosen profession. The Company provides pre-licensing, continuing education and governance, risk and compliance (“GRC”) training solutions that comply with state and federal regulations across the financial services, insurance, real estate, home inspection, appraisal and IT end markets.

“Today’s announcement is the next step in OnCourse’s growth as a leading provider of online professional training solutions. Through our partnership with CIP Capital, OnCourse will continue to expand its presence in our core verticals while aggressively entering new markets that seek outsourced compliance solutions.” said Patrick Sheahan, Chief Executive Officer of OnCourse Learning. The existing management team of OnCourse Learning will continue to lead the Company going forward. The Company will be investing in next generation content across all of its learning modalities while adding new service lines organically and through strategic acquisitions.

“Businesses that provide professionals and companies with innovative solutions to comply with regulations is a key investment theme within our fund’s targeted strategy” said Scott Marden, Managing Partner of CIP Capital. OnCourse Learning will be the fourth platform investment for CIP Capital within its Business Information and Outsourced Services focus and second within its Knowledge Services sub-sector strategy.

Justin Lipton, Managing Director of CIP Capital, added: “OnCourse has a successful history of working closely with state agencies, regulatory bodies and thought leaders to develop comprehensive training solutions that address constantly evolving requirements for professionals. We look forward to partnering with Pat and the rest of the OnCourse management team to continue to scale the business and expand its scope of services.”

Fifth Street Finance Corp. (NASDAQ:FSC) provided debt financing for the transaction. Sidley Austin LLP served as legal counsel to CIP Capital.