Revelstoke exits healthcare training platform Carrus

Revelstoke Capital Partners has exited its investment in Carrus via its merger with Penn Foster.

Revelstoke Capital Partners has exited its investment in Carrus via its merger with Penn Foster. No financial terms were disclosed. Carrus is a healthcare training platform.

PRESS RELEASE

DENVER, CO, October 13, 2021 – Revelstoke Capital Partners (“Revelstoke”), a Denver-based private equity firm, announced today that it has successfully exited its investment in Carrus (the “Company”) through the Company’s combination with Penn Foster.

Carrus delivers quality, trusted healthcare learning content, continuing education, and certification management to new learners, healthcare professionals, and institutions through an integrated technology platform that provides a seamless healthcare learning experience. In 25+ years, Carrus, through its CareerStep and CareerCert divisions, has trained over 150,000 learners for new careers, partnered with more than 150 colleges and universities nationwide, and educated more than 100,000 healthcare professionals.”

Misty Frost, CEO of Carrus, said, “The strategic healthcare expertise that Revelstoke brought to Carrus and its strong support of our growth initiatives was invaluable as we expanded our reach to become one of the nation’s most trusted digital healthcare training and professional development providers. We are excited about the opportunity to join the Penn Foster family and continue building on a shared vision of empowering our learners through powerful education and training tools.”

“Revelstoke’s mission to help build leading healthcare service and technology companies would not be possible without exceptional management teams,” said Russell Cassella, Managing Partner of Revelstoke. “Misty and the Carrus team have spurred tremendous growth for the Company through their strategic vision and in the face of ever-growing demand for training in the healthcare services sector. We are extremely proud of what Carrus has achieved and look forward to seeing the business continue to thrive through its new partnership with Penn Foster.”

William Blair & Company, LLC and Winston & Strawn LLP acted as financial advisor and legal counsel, respectively, to Carrus.

About Carrus
Carrus delivers quality, trusted healthcare learning content, continuing education, and certification management to new learners, healthcare professionals, and institutions through an integrated technology platform that provides a seamless healthcare learning experience. In 25+ years, Carrus, through its CareerStep and CareerCert divisions, has trained over 150,000 learners for new careers, partnered with more than 150 colleges and universities nationwide, and educated more than 100,000 healthcare professionals.”

About Revelstoke Capital Partners
Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare and related health and wellness sectors. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition growth strategy as it strives to build exceptional companies. Revelstoke is based in Denver, Colorado and has approximately $3.8 billion of assets under management, which includes uncalled capital commitments made to Revelstoke-managed vehicles. Since the Firm’s inception in 2013, Revelstoke has completed 112 acquisitions, which include 21 platform companies and 91 add-on acquisitions.