Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised TPC Training (TPC), a portfolio company of Frontenac Company (Frontenac), on its sale to American Safety Council (ASC), a portfolio company of Ridgemont Equity Partners (Ridgemont). TPC is a provider of workforce training; performance management; and environmental, health, and safety (EHS) compliance software solutions for industrial and highly regulated end-markets. The transaction was led by Erik Szyndlar, Andy Leed, Brian Titterington, Ben de Fiebre and Matt Calderon of the Harris Williams Technology Group.
“Industry-wide worker shortages, a widening skills gap and an increasing focus on workplace safety are not only driving strong demand for TPC’s solutions, but also fueling investment activity across the broader market. These are powerful market tailwinds that we expect to continue over the next decade.”
“Through a unique combination of digital training content and EHS software, TPC enables organizations to operate more efficiently and better manage risk, while also enabling professionals to attain the necessary skills to advance their careers,” said Erik Szyndlar, a managing director at Harris Williams. “The combination of TPC and ASC brings together two highly complementary companies that sit at the center of workforce development and enterprise compliance. It was a pleasure working with TPC management and Frontenac on this transaction, and we are excited about the opportunity ahead for the combined business.”
HR Technology News: Total Economic Impact Study Reveals Ivanti Neurons for Service Management Platform Delivers 365% ROI
“TPC’s sale to ASC represents another premium transaction for the firm within the professional education and compliance technology sectors,” added Andy Leed, a director at Harris Williams. “Industry-wide worker shortages, a widening skills gap and an increasing focus on workplace safety are not only driving strong demand for TPC’s solutions, but also fueling investment activity across the broader market. These are powerful market tailwinds that we expect to continue over the next decade.”
TPC is a provider of industrial skills and workplace safety training, performance management, and EHS compliance software solutions to organizations of all sizes, ranging from Fortune 1000 companies to small businesses and workers that span multiple disciplines from industrial to food service. The company offers one of the industry’s broadest libraries of technical and safety training content, as well as software solutions to manage workforce operations. TPC helps companies maximize the full potential of their workforce, dramatically improve productivity, reduce downtime and keep teams safe. TPC is headquartered in Chicago.
HR Technology News: NICE Positioned as a Leader in Workforce Optimization by Independent Research Firm
Frontenac is a Chicago-based private equity firm. The firm focuses on investing in lower-middle market buyout transactions in the consumer, industrial and services industries. Frontenac works in partnership with established operating leaders, through an executive-centric approach called CEO1ST, which seeks to identify, acquire and build market-leading companies through transformational acquisitions and operational excellence. Over the last 50 years, Frontenac has worked with over 275 owners of mid-sized businesses as they address complex transition issues of liquidity, management enhancement and growth planning.
ASC is a leading online national provider of mandatory training, education and certification solutions to regulated end markets. ASC collaborates with federal and state agencies, higher learning institutions, trade associations and iconic industry brands to ensure the content of its online courses is best-in-class and compliant with applicable laws, regulations or industry standards. ASC is committed to helping people live safer and more productive lives with current training offerings focused on workplace safety, driver safety and other vocational certifications. The company is based in Orlando, Florida.
Ridgemont is a Charlotte, North Carolina-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $5.5 billion. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. Ridgemont’s most recent flagship fund, REP III, was formed in 2018 and has $1.65 billion of committed capital.
HR Technology News: New Skillsoft Study Reveals Learning and Development Disconnect Between Women in Tech and Employers
[To share your insights with us, please write to sghosh@martechseries.com]