Vista Equity Partners has acquired Silverchair Learning Systems, a provider of online learning and communication solutions to the senior care industry. Middle-market investment bank Harris Williams & Co. acted as the exclusive advisor to Silverchair Learning. Terms were not released.
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Silverchair Learning Systems, LLC (SLS), a leading healthcare IT (HCIT) provider delivering online learning and communication solutions to the senior care industry. SLS, a subsidiary of Silverchair Holdings, Inc. (Silverchair), was sold to Vista Equity Partners (Vista). Harris Williams & Co. acted as the exclusive advisor to SLS. The transaction was led by Sam Hendler from the firm’s Technology, Media & Telecom (TMT) Group and Cheairs Porter from the firm’s Healthcare & Life Sciences (HCLS) Group.
“Attracting capital from an investor of Vista’s caliber is a testament to what the SLS team has achieved and the ongoing opportunity for differentiated SaaS businesses serving the healthcare market,” added Sam Hendler, a director in Harris Williams & Co.’s TMT Group who leads the firm’s efforts in HCIT.
“We were very pleased to work with Silverchair’s shareholders and the SLS management team,” said Cheairs Porter, a managing director in Harris Williams & Co.’s HCLS Group. “SLS provides a unique learning management solutions platform within the senior care industry and Vista will be a great partner for the management team going forward.”
SLS is an ANCC-accredited online education and communication systems provider that works with senior care providers who want to improve training and communications (both internal and external) in their organizations. SLS products include a user-friendly online training solution that improves compliance; an employee feedback system that delivers surveys, analyzes results and provides remediation tools; and an online communication and education system for resident families.
Silverchair provides advanced semantic product development solutions to scientific, technical and medical (STM) publishers, professional societies and the federal government. The divestiture of SLS will enable Silverchair to calibrate its vision and resources by accelerating technology investments, maximizing market opportunities and building market share in the STM information and knowledge management space.
Vista, a U.S.-based private equity firm with offices in San Francisco, Chicago and Austin, currently invests more than $6.6 billion in capital committed to dynamic, successful technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven management techniques that yield flexibility and opportunity in private equity investing.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise, and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements, and capital markets advisory services.
The firm’s TMT Group focuses on software, IT services, communications and digital media. For more information on Harris Williams & Co.’s efforts in TMT, contact Jeff Bistrong at +1 (617) 654-2102, Michael Wilkins at +1 (415) 288-4260 or Thierry Monjauze at +44 207 518 8900.
The firm’s HCLS Group focuses on transactions across the spectrum of healthcare market segments. For more information, contact Turner Bredrup, James Clark or Cheairs Porter at +1 (804) 648-0072 or Todd Morris at +1 (415) 288-4260.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorised and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.