CIP Capital has sold OnCourse Learning, a provider of eLearning, workforce management and compliance solutions.
The New York-based private equity firm has offloaded the company to Bertelsmann Education Group, after buying the business in 2014. Over the past four years, OnCourse Learning has completed seven acquisitions and aggressively invested in key sales, marketing and technology initiatives – including the launch of its OnCourse Direct learning management system.
Headquartered in Brookfield, WI, OnCourse Learning delivers innovative eLearning, workforce management, and compliance solutions to enterprises and professionals across three high growth and highly regulated end-markets: healthcare, financial services, and real estate.
For financial services, OnCourse delivers its solutions to mortgage lenders, banks, credit unions, currency exchange, payday lenders, gaming and insurance sectors.
Justin Lipton, managing partner of CIP Capital, said: “Over the past four years, OnCourse Learning has transformed into a scaled platform with a proven track record of providing high quality training and workforce management solutions across multiple verticals. Pat (CEO) and the entire management team at OnCourse have been great partners to CIP Capital. We wish the company success moving forward.”
OnCourse offers a proprietary, expert-based content library of over 22,000 unique courses across the healthcare, financial services and real estate markets.
As part of the transaction, OnCourse Learning’s healthcare division will be integrated into the Bertelsmann subsidiary Relias. OnCourse Learning’s financial service and real estate divisions will operate as a separate subsidiary under Bertelsmann Education Group.
“I’ve had the pleasure of working closely with the CIP Capital team to implement our strategic and operating plan,” added Patrick Sheahan, CEO of OnCourse Learning. “This transaction is a prime example of a management team and ownership group collaborating together to develop and execute on key value enhancing initiatives, ultimately driving a strong result for all stakeholders. I am excited about OnCourse Learning’s next phase of growth under the Bertelsmann platform.”
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