As one step in a plan to capture a wide suite of services in the professional education space, Alpine Investors’ platform Axcel will announce later this morning the acquisition of EduMind, a specialist in professional exam preparation.
Axcel was launched in June, and EduMind is the fourth acquisition. Alpine is investing in Axcel through its AlpineX vehicle, which backs lower mid-market services businesses.
Founded in 2004 by Radhika Dega and Vinod Dega, who are married, EduMind is based in Dublin, Ohio, and Chennai, India.
The company’s original goal was to provide comprehensive training courses that help students prepare for the Fundamentals of Engineering and Professional Engineer exams. The company has since expanded to include other professions, such as architecture, project management and nursing, among others.
“One of the reasons why we wanted to partner with Vinod Dega is because we are very aligned on people, culture and values,” Jonathan Zeidan, an operating partner with Alpine who serves as Axcel’s chief executive, told PE Hub in an exclusive interview.
“We share a lot of the same intentions with EduMind,” Zeidan said. “We believe the business to be a leader in its space and professional education broadly. Partnering with EduMind also represents a new focus area for us in professional test prep.”
Zeidan said there is a growing demand for professional education. Other companies under Axcel include Michael Management Corp (MMC), a provider of training for SAP enterprise software; Web Age Solutions, an IT training company; and Interskill Learning, a provider of online mainframe training.
“Not only is it a great area to help people improve their careers and improve their lives, it is also an exciting investment opportunity,” Zeidan said. “We believe there is significant opportunity for Axcel businesses to grow independently as well as the opportunity to build a family of businesses that are stronger together than they are apart with some of the resources that we can bring to the table.”
Zeidan said there is probably more mobility in the workforce now than there has been in a long time.
“Many people have a desire to grow in their career or perhaps change careers to do whatever they really want to do – to expand their professional horizons,” he said. “We want to be the go-to place for professionals who want to learn, study or earn a new credential or certification.”
Zeidan expects to use the resources in Alpine’s ecosystem to help scale EduMind. These include expertise in sales, marketing, lead generation and talent acquisition.
The Axcel chief executive said there is a lot of runway for EduMind to grow organically and inorganically.
“We are excited about the future, and we think this could be something where we can deliver a lot of value to the world, not just as an investment, but for the learners, the people, the companies and the clients that we are partnering with.”