Renovus Capital Partners said April 2 that it sold its controlling stakes in TPC Training and Jade Learning to Frontenac. Financial terms weren’t announced. TPC Training provides maintenance, repair, and operator training solutions, while Jade Learning offers continuing education training for the electrical code, electrical safety and security alarm segments. DLA Piper served as legal counsel to TPC and Jade.
WAYNE, Pa.–(BUSINESS WIRE)–Renovus Capital Partners, a private equity firm focused on education, training and human capital sectors, announced today that it sold its controlling interests in TPC Training (“TPC”) and Jade Learning (“Jade”) to Frontenac, a Chicago-based private equity firm.
Headquartered outside Chicago, IL, TPC Training is the leader in maintenance, repair, and operator training solutions that enable businesses to develop a more efficient, capable and safe workforce. Sister company Jade Learning is a provider of continuing education training, serving the electrical code, electrical safety and security alarm segments.
Renovus first invested in TPC in 2014 by sourcing and financing its transformative acquisition of American Trainco, a provider of instructor led maintenance and technical training. The acquisition gave TPC significant scale and a larger product portfolio. In 2016, Renovus furthered its investment in technical training through the acquisition of Jade Learning.
During its hold period, Renovus added key talent to the boards and management teams of TPC and Jade. The team enhancements and their strong execution on new product rollouts, customer acquisition strategies, geographic expansion and sales execution enabled significant organic growth in both TPC and Jade.
John Zenko, TPC’s Chairman said, “Since founding TPC more than forty years ago, we were always a strong business that delivered best in class training to the maintenance staffs of the largest companies in the world. When Renovus came along, they helped drive us to the next level of scale and sophistication.”
“I am proud of what we have achieved to date and am confident that, with the team and resources that have been put in place over the last few years, we are well positioned for continued growth. Renovus has been a valuable and trusted partner, and I have truly enjoyed working with them,” said Derek Dunaway, CEO of TPC and Jade.
Jesse Serventi, Founding Partner of Renovus Capital said, “When we brought a strategic acquisition idea to TPC in 2013, we were not yet an investor in the company. They liked that we showed up with a view and value add immediately. Since then, we have enjoyed working with the TPC and Jade teams to build an outstanding company.”
DLA Piper served as legal counsel to TPC and Jade in the sale.
About Renovus Capital
Founded in 2010, Renovus Capital Partners is an education, training and human capital focused private equity firm. Renovus is based outside of Philadelphia and manages $500 million of committed capital through two SBIC funds. To date, the firm has acquired nineteen portfolio companies in areas such as educational technology, educational content, classroom instruction, corporate consulting and training, and human capital. The firm is an active investor in profitable and growing enterprises where the Renovus team, in partnership with management, seeks to create value through operational improvements, strategic growth initiatives and acquisitions. More information can be found at www.renovuscapital.com.
About TPC Training
TPC Training is the leader in industrial skills training, featuring the industry’s deepest library of technical and safety content and an unrivaled portfolio of training solutions to help build a better, safer and more efficient workforce. TPC’s complete portfolio of training methods includes online, classroom, virtual, and on-the-job. The company has helped more than 40,000 client sites globally to train over 3.5 million skilled workers. Its training programs can dramatically improve productivity, reduce downtime, and help keep you and your team safe. With programs to fit every training need, we are the total training solution. For more information, please visit www.tpctraining.com
About Jade Learning
Jade Learning is a leading provider of electrical code, electrical safety, and security alarm continuing education nationwide, headquartered in Raleigh, NC. Founded in 1996, Jade has helped hundreds of thousands of electricians renew their licenses online, as well as provided the most comprehensive Journeyman and Master electrician test preparation available online. For more information, please visit www.jadelearning.com