DWHP sells Career Step to Revelstoke Capital Partners

DW Healthcare Partners (DWHP), a healthcare private equity firm with offices in Toronto and Park City, Utah, has sold its portfolio company Career Step Holdings LLC for an undisclosed amount. The buyer in the transaction was U.S private equity firm Revelstoke Capital Partners. Career Step is a provider of online, career-focused education and training programs in the healthcare industry. Based in Provo, Utah, the company has been backed by DWHP and BB&T Capital Partners since 2009.

PRESS RELEASE

DW Healthcare Partners Announce the Sale of Career Step Holdings to Revelstoke Capital Partners

PARK CITY, Utah, Feb. 5, 2015 /CNW/ — DW Healthcare Partners (“DWHP”), a healthcare-focused private equity firm with offices in Toronto, Ontario and Park City, Utah, announced the sale of its portfolio company, Career Step Holdings, LLC (“Career Step”) to Revelstoke Capital Partners (“Revelstoke”), a Denver-based private equity firm. The terms of the transaction were not disclosed.

Career Step, based in Provo, Utah, is a leading provider of online, career-focused training programs in the high-growth healthcare sector. Career Step offers high quality, cost effective, job-specific training solutions that help learners and corporate employees quickly gain career skills and prepare to sit for nationally recognized certifications. The Company has proprietary course content developed by industry experts and distributed through a robust online learning management system.

“Our President and CEO, Stephen Tober, and his management team did an incredible job of diversifying and positioning Career Step for its next phase of growth,” said DWHP’s founder and Managing Director Andrew Carragher. “We are confident the team will continue to build on this track record with their new partner and wish them all the best.”

“DW Healthcare Partners has been an exceptional partner for Career Step and fully supported the strategic investments we made across our entire business,” commented Stephen Tober, President and CEO. “In collaboration with DWHP, we have strengthened the team, entered new markets and broadened the product portfolio for both our students and corporate partners – all of which will help drive the continued growth of the business.”

The sale marks the fourth portfolio realization for DWHP’s second equity fund which closed in 2007. Paul Hastings LLP acted as exclusive legal advisor to Career Step and William Blair & Company served as exclusive financial advisor to the Company.

About DW Healthcare Partners
DW Healthcare Partners is a private equity firm focused exclusively on the healthcare industry. The firm manages over $500 million in committed capital and invests in profitable healthcare companies with proven management teams. DW Healthcare Partners is led by seasoned healthcare executives with more than 110 years of combined industry experience. The firm provides the capital, strategic guidance, and acquisition expertise to help mid-to-late-stage companies realize their potential for growth. For more information, please visit: www.dwhp.com.

Andrew Carragher
Phone: 416-583-2421
Email: andrew@dwhp.com
Website: www.dwhp.com

Phillip Smith
Phone: 435-645-4051
Email: phillip@dwhp.com
Website: www.dwhp.com

SOURCE DW Healthcare Partners

Photo courtesy of Shutterstock