Revelstoke Capital Partners said Wednesday that it has completed its buy of Career Step. Financial terms weren’t announced. Provo, Utah-based Career Step provides online, career-focused training programs in the healthcare sector. Ally Corporate Finance and Norwest Mezzanine Partners provided debt financing. William Blair & Company served as financial advisor to Career Step.
DENVER–(BUSINESS WIRE)–Revelstoke Capital Partners (“Revelstoke”), a Denver-based private equity firm, has completed the acquisition of Career Step, LLC (“Career Step” or the “Company”).
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. Revelstoke will provide Career Step strategic guidance and additional capital to accelerate its organic growth, pursue selective acquisitions and continue to leverage its scalable business model.
“We are enthusiastic about the prospect of working with an extremely talented and experienced management team to grow Career Step and further solidify its position as a leader in the online education and training industry,” said Mark King, CEO, Managing Partner and Co-Founder of Revelstoke. “Career Step’s programs are tailored to be cost effective and short in duration with the objective of conveying career specific skills, creating a compelling value proposition for its learners,” said King.
“The resources and expertise that Revelstoke brings to our team allows us to continue our focus on growth while maintaining the quality and efficacy of our training programs,” commented Stephen Tober, President and CEO of Career Step. “We look forward to our partnership with Revelstoke and believe that their deep relationships in the healthcare industry will assist us in continuing to grow our business,” said Tober.
Hogan Lovells LLP acted as exclusive legal advisor to Revelstoke. William Blair & Company served as exclusive financial advisor and Paul Hastings LLP acted as exclusive legal advisor to Career Step in the transaction. Ally Corporate Finance and Norwest Mezzanine Partners provided debt financing for the transaction.
About Career Step:
Career Step, an online provider of career-focused education and corporate training, has trained over 85,000 students, has more than 150 partnerships with colleges and universities nationwide, and provides training for some of the most respected healthcare employers in the nation. Career Step is committed to helping students and corporate employees alike gain the skills they need to be successful in the workplace, improving lives and business results through education.
Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies. Revelstoke strives to partner with management teams to execute on a disciplined organic and acquisition strategy to build exceptional companies. Revelstoke’s Managing Partners, Mark King, Dale Meyer and Simon Bachleda, have completed over 100 platform and add-on acquisitions, representing over $5 billion of total enterprise value.