CIP Capital sells OnCourse Learning

CIP Capital has sold OnCourse Learning to Bertelsmann Education Group. No financial terms were disclosed. Harris Williams and Macquarie Capital served as financial advisers to OneCourse Learning. Headquartered in Brookfield, WI, OnCourse Learning is a provider of eLearning, workforce management and compliance solutions to businesses and professionals in the healthcare, financial services and real estate markets.


New York, NY – November 1, 2018 – CIP Capital announced that it has completed the sale of OnCourse Learning to Bertelsmann Education Group, a division of Bertelsmann SE & Co KGaA (Bertelsmann).

Headquartered in Brookfield, WI, OnCourse Learning delivers innovative eLearning, workforce management, and compliance solutions to enterprises and professionals across three high growth and highly regulated end-markets: healthcare, financial services, and real estate. CIP Capital acquired OnCourse Learning in 2014 and partnered with Patrick Sheahan and OnCourse Learning’s management team to execute on several strategic initiatives. Over the past four years, OnCourse Learning completed seven acquisitions and aggressively invested in key sales, marketing and technology initiatives – including the launch of its OnCourse Direct learning management system.

Through its rapid expansion into the healthcare end market, OnCourse Learning created a leading market presence across the continuum of care, serving hospitals, health systems, ambulatory centers, EMS providers, non-medical home care providers, assisted living facilities, skilled nursing and other long-term care customers. OnCourse Learning offers a proprietary, expert-based content library of over 22,000 unique courses across the healthcare, financial services and real estate markets.

“Over the past four years, OnCourse Learning has transformed into a scaled platform with a proven track record of providing high quality training and workforce management solutions across multiple verticals. Pat and the entire management team at OnCourse have been great partners to CIP Capital. We wish the company success moving forward,” commented Justin Lipton, Managing Partner of CIP Capital.

“I’ve had the pleasure of working closely with the CIP Capital team to implement our strategic and operating plan,” added Patrick Sheahan, CEO of OnCourse Learning. “This transaction is a prime example of a management team and ownership group collaborating together to develop and execute on key value enhancing initiatives, ultimately driving a strong result for all stakeholders. I am excited about OnCourse Learning’s next phase of growth under the Bertelsmann platform.”

As part of the transaction, OnCourse Learning’s healthcare division will be integrated into the Bertelsmann subsidiary Relias. The transaction will create one of the leading online education providers in the healthcare sector. OnCourse Learning’s financial service and real estate divisions will operate as a separate subsidiary under Bertelsmann Education Group.

Harris Williams and Macquarie Capital served as financial advisors and Willkie Farr & Gallagher LLP served as legal advisor to OnCourse Learning. Manatt Phelps & Phillips LLP served as legal advisor to Bertelsmann.

OnCourse Learning delivers licensure, regulatory and compliance education solutions throughout the nation’s leading industries including financial services, healthcare and real estate. Through trusted industry expertise, compliance management and technology solutions, OnCourse Learning focuses on advancing the e-learning environment for individuals and businesses to help to build new careers, empower employees through knowledge and identify efficiencies in corporate training management.

OnCourse Learning offers a full suite of educational products including state and federally approved prelicensing and continuing education programs, accredited course content, exam prep tools, publications, e-books, events and a sophisticated and customizable learning management system and course-authoring tool. To learn more, visit

CIP Capital is a New York-based private equity firm focused on investing in growth-oriented, middlemarket companies across the Business Information and Technology-Enabled Services sectors in North America. The fund seeks to invest in proven, profitable businesses that provide their customer bases with critical information, data-driven insights, and value-added outsourced services. CIP Capital targets investments in sectors including business services, marketing services, and knowledge services. For more information please visit: