The Riverside Company has acquired BankersEdge as an add-on to its OnCourse Learning platform. No financial terms were disclosed. US Bank provided financing for the transaction. Based in Norristown, Penn., BankersEdge is a provider of corporate training and compliance solutions for bank and credit union workers.
September 05, 2013
The Riverside Company has added Corporate Training Technologies, LLC (dba BankersEdge) to its OnCourse Learning (OnCourse) platform. Based in Norristown, Pennsylvania, BankersEdge provides regulatory, employment, and leadership training as well as compliance solutions for bank and credit union workers.
BankersEdge boasts a nationwide slate of almost 1,000 customers representing a wide variety of financial institutions. Its courses are used for comprehensive training and regulatory updates by bankers, mortgage professionals and other financial services employees at institutions of all sizes.
“BankersEdge has a wide array of courses and specialized programs, and they’ve proven very adaptable in a dynamic regulatory environment,” said Riverside Managing Partner Loren Schlachet. “This addition strengthens the position of OnCourse as an unparalleled provider of a wide variety of professional training and compliance solutions to the financial services market.”
BankersEdge has very high renewal rates, indicating strong customer satisfaction and demonstrating the company’s ability to meet a variety of needs.
“BankersEdge has strong technical offerings and a stable of excellent customers,” said Riverside Principal Brian Sauer. “OnCourse has proven very scalable as we’ve added companies in the past, and we’re pleased to continue driving growth.”
The addition of BankersEdge also ensures an expanded regulatory compliance footprint for OnCourse at a time when demand is high.
“The financial services industry continues to maneuver through a significant, changing regulatory environment focused on compliance, and it needs sharp solutions,” said Patrick Sheahan, CEO of OnCourse. “BankersEdge complements and supports the innovative, customized, and nimble approach to compliance solutions that OnCourse has become known for within its current bank and credit union customer base.”
Working on the transaction with Schlachet and Sauer from Riverside were Associate Ryan Philyaw, Operating Partner David Logan and Finance Director David Pecore. Origination Partner Robert Landis sourced the deal for Riverside.
US Bank provided financing for the transaction. Jones Day provided legal counsel on the transaction, and Deloitte provided accounting due diligence.
The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $250 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 320 transactions. The firm’s international portfolio includes more than 70 companies.