Falfurrias Capital Partners, a Charlotte-based private equity firm focused on investing in growth-oriented, middle-market businesses, announced that it completed the sale of portfolio company American Safety Council (ASC) to Ridgemont Equity Partners.
The sale marks a successful exit for Falfurrias Capital Partners following a six-year growth partnership that saw ASC add five complementary businesses and a new leadership team, including CEO John Comly, that focused on building a robust digital marketing and customer acquisition platform.
ASC, based in Orlando, Florida, is the leading provider of online training and certification for workplace safety, driver safety, and other regulated, continuing education and pre-licensing markets. Falfurrias Capital Partners invested in the company in May 2014.
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“We are proud of our successful partnership with American Safety Council, which was defined by significant investments in the team, technology, and content, all of which contributed to strong growth,” said Wilson Sullivan, principal at Falfurrias Capital Partners. “John and his team have built an online training platform with world-class digital marketing and content development capabilities, as well as a proven track record of successful acquisitions that have created strategic value.”
Five companies acquired since 2014 broadened ASC’s content library and extended its reach into new markets, including food safety training. Starting with the addition of Online Traffic School (OLTS) in late 2014, ASC continued with acquisitions of Huckleberry Notary Bonding, National Safety Training/National Hospitality Training, Florida Drivers Association and Food Safety Educators.
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