SAN FRANCISCO--(BUSINESS WIRE)--ELT, leading specialists in ethics and workplace compliance training, today announced that the company will take on a new financial investor; US based private equity firm The Riverside Company. Having served more than 2,000 clients to date, and trained more than five million employees, ELT is excited to leverage this new strategic shift in ownership to continue ELT’s incredible growth and success.
“Riverside is committed to partnering with exceptional companies that are primed to excel. With employers facing a tidal wave of compliance challenges, government regulation and private litigation, ELT’s unique training solutions are in the highest demand,” said Riverside Managing Partner Loren Schlachet. “The quality of ELT’s programs is what really sets them apart. At a time when compliance programs are under the most intense scrutiny, employers trust ELT to help create a culture of ethics, inclusion and respect while maximizing invaluable legal defenses.”
ELT specializes in providing training on key state and federal employment laws that mandate broad-scale and repetitive workplace education. An unwavering commitment to quality and innovation has accelerated the company’s growth over the last several years, making it the solution of choice for employers of all sizes and across multiple industries. With a reputation for catapulting emerging brands to the next level, Riverside will unite with ELT to bring their renowned training courses to the forefront of the industry.
Founded by Littler Mendelson (Littler), ELT will continue its long-term, exclusive partnership with the distinguished labor and employment law firm that has more than 800 attorneys and 50 offices across the county. Littler will continue to develop proprietary content for ELT courses and work hand-in-hand with ELT to shape product strategy and predict cutting-edge industry trends. Senior Littler shareholder and ELT founder, Garry Mathiason will continue to serve on the ELT Board, along with former Littler attorney and current ELT President & CEO, Shanti Atkins.
“Littler has never been more excited about our partnership with ELT, and the incredible power of the ELT-Littler alliance to offer clients the most innovative, engaging and effective training solutions available,” said Garry Mathiason, senior shareholder at Littler.
As 2011 promises to bring greater regulation and enforcement, escalating litigation risk and an increasing focus on ethics and compliance, ELT is poised to lead the market and continue adding to its impressive list of clients.
“Riverside’s incredible operating expertise, resources and proven track record of success will allow us to realize our vision for growth at ELT,” said Shanti Atkins, President & CEO of ELT. “We chose Riverside because of their commitment to truly nurturing entrepreneurial businesses, as well as their sterling reputation for both success and integrity.”
Morgan Keegan Technology Group acted as financial advisor and Goodwin Procter acted as legal counsel to ELT in the transaction. For Riverside, Deerpath Capital provided financing, Jones Day was the legal advisor and RSM McGladrey provided financial due diligence.
ELT provides online training solutions to help employers manage their most important workplace compliance challenges. ELT specializes in the topics that create the greatest legal risks, and where effective employee training can prevent misconduct, establish powerful legal defenses, and help to create a culture of ethics, inclusion and respect. The company focuses on harassment training, ethics training, wage & hour training and EEO training. ELT features legal content from Littler Mendelson, the world’s largest employment law firm, and is endorsed by SHRM, the world’s largest human resources association. ELT’s award-winning courses engage employees with compelling stories drawn from actual cases and real events. Leveraging the latest technology and high-end media, ELT’s solutions reflect the level of quality that organizations want to associate with their compliance programs. With more than a decade of market-tested success and millions of employees trained, ELT is trusted by today’s most respected employers.
The Riverside Company is a global private equity firm focused on acquiring growing enterprises valued at up to $200 million (€200 million in Europe). The firm partners with strong management teams and enhances its investments through acquisitions and organic growth. Since its founding in 1988, Riverside has invested in more than 240 transactions with a total enterprise value of more than $5.4 billion/€4.4 billion. The firm’s portfolio in North America, Europe and the Asia Pacific region includes 72 companies with roughly 14,000 employees. Riverside completes acquisitions smoothly thanks to $3.4 billion/€2.7 billion in assets under management, more than 195 professionals in 19 offices, and longstanding relationships with partner lenders.