Citi Capital Strategies Advises Advanced Education Systems, LLC on Its Acquisition by The Riverside Company

NEW YORK--(BUSINESS WIRE)--The Riverside Company, a New York, NY and Cleveland, OH based private equity firm that invests in premier middle market companies, has acquired a majority interest in Advanced Education Systems, dba TrainingPro, a leading education and compliance solutions provider for the mortgage sector.

“We are building a knowledge base of professional training companies and see the great growth potential the training industry represents”

Citi Capital Strategies, a leading provider of investment banking services to privately held businesses, served as the exclusive financial advisor to TrainingPro. The terms of the transaction were not disclosed.

“We are pleased to team our client with The Riverside Company, a quality buyer that is committed to working with management to fully capitalize on TrainingPro’s reputation and comprehensive education solutions,” said Eric Williams, Managing Director at Citi Capital Strategies. “Partnering with Riverside, a firm that understands the nuances of training and training development will enable us to grow by staying ahead of the demand for our services. Additionally, our reputation for helping customers meet compliance, training and reporting needs will continue to grow as we reach out for new opportunities to enrich the mortgage industry,” said Christopher Nickerson, Chief Executive Officer of TrainingPro.

The mortgage education sector is benefiting from legislative efforts at both the National and State levels for all states to adopt and enhance pre-licensing and continuing education requirements for mortgage professionals. These efforts come in response to the stricter corporate governance environment and the need to further professionalize and standardize the mortgage sector with greater regulation of brokers and lenders. These favorable dynamics are driving the trend for more states to adopt legislation requiring mortgage lenders and brokers to receive industry specific education prior to receiving a license to practice and to fulfill mandatory continuing education requisites in order to keep their licenses active.

“We are building a knowledge base of professional training companies and see the great growth potential the training industry represents,” said Loren Schlachet, Riverside Managing Partner. “As an education-solutions provider, TrainingPro offers the necessary tools for mortgage professionals nationwide to excel in the industry. Approximately 30 states currently have training requirements for mortgage professionals and, with the current public focus and scrutiny on the mortgage industry, the number of states and the overall amount of mortgage industry regulation and training is certain to increase, providing a base of new business for TrainingPro.”

Citi Capital Strategies is a leading investment bank dedicated to serving the needs of closely held and family owned businesses. Citi Capital Strategies specializes in mergers, acquisitions, recapitalizations, ESOPs, corporate real estate investment banking services, and capital solutions for private businesses. Citi Capital Strategies is a division of Citigroup Global Markets Inc. Member SIPC. For more information, visit our website at www.citicapitalstrategies.com

Advanced Education Systems LLC, dba TrainingPro, is the national leader in mortgage education. Founded in 1999, TrainingPro is a preferred mortgage training institution educating loan officers and mortgage brokers in small to large companies, state associations and, most recently, the National Association of Mortgage Brokers. As a mortgage school, TrainingPro provides the tools for industry professionals to excel in the industry. The curriculum is state-accredited, comprehensive and flexible and the courses are key components in obtaining and renewing loan officer licenses and maintaining compliance with federal and state regulations. Courses are offered in online, in-person and home-study formats. Visit www.trainingpro.com for complete details.

The Riverside Company is the largest global private equity firm focused on the smaller end of the middle market (“SEMM”) and is one of the industry’s most experienced leveraged buyout investors. Riverside specializes in investing in premier SEMM companies (those with enterprise values of less than $150 million) and partners with strong management teams to build companies through acquisitions and value-added growth.