360TRAINING ANNOUNCES EQUITY RECAPITALIZATION FROM GREYLION AND VESTAR CAPITAL PARTNERS
19 Jul, 2022, 07:00 ET
New investment will help to accelerate strategic growth initiatives
AUSTIN, Texas, July 19, 2022 /PRNewswire/ -- 360training (or "the Company"), a leading provider of online training and continuing education to regulated industries, today announced an equity recapitalization from GreyLion Partners LP ("GreyLion") and Vestar Capital Partners ("Vestar") to support the Company's rapid growth and accelerate acquisition activity. Terms of the investment were not disclosed.
The new investment will help 360training pursue large and small strategic acquisitions within its core markets and in new markets and geographies. 360training helps organizations develop their workforces and remain compliant with labor regulations and industry certification mandates, with a content library offering more than 6,000 courses across five major verticals: Environmental Health & Safety, Food & Beverage, Real Estate, Healthcare and Financial Services.
"We are thrilled to welcome Vestar as a strategic investment partner," said 360training CEO Tom Anderson. "360training now enjoys the substantial backing of two proven investors, both of which pride themselves on partnering with portfolio companies to help accelerate growth. We are looking forward to scaling our platform within existing and new markets through continued investment in strategic acquisitions and product development."
"360training's outstanding management team, differentiated content, and focused go-to-market strategy have allowed the Company to capitalize on attractive, sustainable long-term trends in regulatory-driven online education and training," said Jake Olson and Nikhil Bhat, Managing Directors at Vestar. "We're excited to partner with GreyLion and the 360training team to fuel the Company's continued expansion and product development."
GreyLion first invested in 360training in 2018 and remains a significant owner of the Company. The firm is committed to 360training's long-term growth and success while ensuring that the Company is well positioned to further execute against its strategic business plan.
Henry Heinerscheid, Partner of GreyLion, stated, "Since our investment four years ago, 360training has grown its management team, strengthened its employee base, and invested significant capital in its technology and marketing capabilities. Those investments have enabled growth into new verticals like Healthcare and Financial Services while increasing market share in Environmental Health & Safety, Food & Beverage, and Real Estate. We are proud of the many add-on acquisitions completed to date, and we are thrilled to have Vestar join GreyLion and management to continue driving 360training's industry leadership and support the Company's expansion."
As part of the investment, Mr. Bhat and Mr. Olson of Vestar will join 360training's Board of Directors alongside existing Board members Chip Baird and Mr. Heinerscheid of GreyLion; Mr. Anderson of 360training; and Independent Director Kirk Wortman.
Harris Williams served as the exclusive financial advisor to 360training and Latham & Watkins was its legal advisor. Houlihan Lokey served as exclusive financial advisor, and Kirkland & Ellis LLP provided legal counsel, to Vestar.
360training is an integrated digital training and compliance platform for highly regulated industries. Through a unique combination of differentiated technology and deep regulatory expertise, 360training enables professionals to attain jobs and maintain industry-mandated requirements while helping organizations develop their workforces and remain compliant. 360training's robust, proprietary content library offers over 6,000 courses across major business verticals: Environmental Health & Safety, Food & Beverage, Real Estate, Healthcare, Financial Services and more.
Since 1997, 360training.com, Inc. has delivered over 11 million training plans across multiple brands, including HIPAA Exams, Meditec, AgentCampus, VanEd, TIPS, OSHAcampus, OSHA.com, and Learn2Serve. Please visit www.360training.com or their social media accounts on Facebook, Twitter, and LinkedIn to learn more.
About GreyLion Partners LP
GreyLion focuses on investing in high-growth businesses in the lower middle market. We seek to partner with existing owners and management teams across the consumer, industrial, healthcare, software and services sectors to deliver capital in tailored and flexible minority and control structures. GreyLion invests $25-$125 million of capital per investment, primarily within the United States. We currently manage private equity funds with aggregate commitments of approximately $1.7 billion. For more information on GreyLion, please visit http://www.greylion.com.
About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Business & Technology Services and Healthcare. Since inception in 1988, Vestar funds have invested $11 billion in 89 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $52 billion. For more information on Vestar, please visit http://www.vestarcapital.com.
SOURCE GreyLion Partners LP; Vestar Capital Partners
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