Charterhouse Capital buys education-software company Skillsoft for more than $2 bn
15 Mar 2014
Private equity firm Charterhouse Capital Partners has bagged education-software company Skillsoft for more than $2 billion after outbidding rival private-equity firms in an auction for it.
The deal comes a few days after buyout firm Hellman & Friedman struck a deal to buy Renaissance Learning from Permira in a $1.1- billion deal, including debt. (See: Hellman & Friedman to buy Renaissance Learning for $1.1 bn)
Advent International, Bain Capital and Berkshire Partners had acquired Dublin, Ireland-based Skillsoft in 2010 in a $1.1 billion deal.
Skillsoft provides cloud-based learning solutions to its worldwide customers, which include global enterprises, government departments, educational, small and mid-sized businesses.
Skillsoft's courses, books and videos have been developed by industry learning experts and currently serve over 6,000 customers and more than 19,000,000 learners around the world. Its customers include PGA of America and the University of North Carolina Wilmington.
''We have experienced great success during our four year run with Berkshire Partners, Advent International and Bain Capital, and greatly appreciate the support and guidance they have provided to our team,'' said Chuck Moran, CEO of Skillsoft.
''We are delighted to have the opportunity to partner with Skillsoft,'' said Frank van den Bosch, a partner of Charterhouse. ''We see a tremendous future for Skillsoft and look forward to working with Chuck and the Skillsoft team to achieve our goals.''
''On behalf of Berkshire Partners, Advent International and Bain Capital, I would like to thank Chuck Moran and the Skillsoft management team for their partnership over the past several years,'' said Michael Ascione, Managing Director of Berkshire Partners. ''During our collective ownership, Skillsoft has grown significantly and we believe that the company is very well-positioned to continue to enhance its leadership position in the field of technology-delivered learning.''
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