Chicago, IL – April 2, 2018
Frontenac, a Chicago-based private equity firm, today announced the March 30th acquisition of TPC Training (“TPC”), a leading provider of industrial skills training, along with the complementary acquisition of JADE Learning (“JADE”), a leading provider of continuing education for working professionals nationwide. Financial terms of the private transactions were not disclosed.
TPC offers in-person and online technical, maintenance, and operator training solutions that enable businesses to develop a more efficient, capable and safe workforce. JADE is a leading provider of continuing education training, serving the electrical code, electrical safety and security alarm segments. Together, TPC and JADE have over 80 employees and deliver services in all 50 states to a diverse base of customers.
"Frontenac's acquisition of TPC Training and JADE Learning is consistent with our history of investing in high quality services businesses that are industry leaders and poised for substantial growth," said Michael Langdon, Managing Director at Frontenac. "TPC’s comprehensive suite of products and services combined with a strong leadership team have been a driving force behind the company’s impressive growth, and Frontenac is the ideal partner for the next stage of the company's trajectory. TPC and JADE fit perfectly with Frontenac’s track record of successfully building entrepreneurial companies to their next level of growth and profitability and our strategy of adding value by bringing seasoned, best-in-class outside talent to the company. We are proud and excited to support the consolidated business as it navigates the next chapter on its journey of success."
Joining the Board of Directors as Executive Chairman at closing is Frontenac CEO1ST® executive partner and 25+ year education and training veteran Ty Field, who is the former CEO of Jones & Bartlett, a provider of training solutions in the emergency care, safety and other healthcare content markets. Previously, Field spent many years in senior roles with Ascend Learning and Cengage Learning (f/k/a Thomson Learning). "This announcement marks the beginning of an exciting new chapter for TPC," said Field. "We look forward to partnering with management to enhance the culture of customer service, high performance and teamwork that TPC has established over nearly 50 years. We are excited to assist in providing increased value to TPC’s customers and driving the next stage of growth initiatives to become the leading platform for industrial skills training."
According to CEO Derek Dunaway, the partnership with Frontenac will fuel the company's
future growth plans. "TPC has built a strong reputation with its customers as a provider of
essential technical and safety skills training, and our company goal continues to be driving
strong organic growth alongside strategic and complementary acquisitions. The combination
of TPC and JADE will allow us to expand the access to our content into additional channels
and accelerate the growth strategies for both companies. We were impressed with
Frontenac’s deep understanding of our mission and our value. We are excited to work with
them to further expand our product capabilities, increase our breadth of content and continue
building on our partnerships with our customers. Our new partnership and the access to
strategic insight and additional capital will be valuable in executing our ambitious growth plans in 2018 and beyond.”
Katten Muchin Rosenman LLP served as legal counsel to Frontenac on the transaction.
About TPC Training
TPC Training is the leader in industrial skills training, featuring the industry’s deepest library of technical and safety content and an unrivaled portfolio of training solutions to help build a better, safer and more efficient workforce. TPC’s complete portfolio of training methods includes online, classroom, virtual, and on-the-job. The company has helped more than 40,000 client sites globally to train over 3.5 million skilled workers. Its training programs can dramatically improve productivity, reduce downtime, and help keep you and your team safe. With programs to fit every training need, we are the total training solution. For more information, please visit www.tpctraining.com.
Frontenac is a leading private equity firm, based in Chicago. The firm focuses on investing in lower middle market buyout transactions in the food, industrial, and services industries. Frontenac works in partnership with proven operating leaders, through our executive-centric approach called CEO1ST, to identify, acquire, and build market leading companies through transformational acquisitions and operational excellence. The firm has built a leading franchise working with over 275 owners of mid-sized businesses, almost always families or founders, as they address complex transition issues of liquidity, management enhancement, and growth planning. For more information, please visit www.frontenac.com.