Target Company Overview

Career Step, LLC, located in Provo, Utah, is a premier provider of online training programs focused on career development in the expanding healthcare sector. The company specializes in delivering high-quality, cost-effective training solutions aimed at equipping learners and corporate professionals with essential skills needed for various career paths. With proprietary content developed by industry experts and delivered through a comprehensive online learning management system, Career Step helps individuals prepare for nationally recognized certifications efficiently.

With a solid foundation, Career Step has successfully trained over 85,000 students and formed partnerships with more than 150 colleges and universities across the United States. The company serves several reputable healthcare employers, reinforcing its commitment to enhancing workforce qualifications and career readiness in the industry.

Industry Overview

The healthcare training industry in the United States is experiencing significant growth, fueled by increasing demand for skilled professionals and specialized training programs. As healthcare evolves, there is a consistent requirement for certified practitioners who can provide quality care in a timely manner. This surge in demand is prompting educational institutions and training providers to adapt their offerings to meet the needs of both learners and employers.

In recent years, online education has gained traction as a flexible and accessible option for individuals seeking career advancement. The COVID-19 pandemic accelerated this trend, resulting in increased enrollment in online training programs. Online platforms allow students to learn at their own pace, making it easier for working professionals to enhance their skills without interrupting their jobs.

Moreover, the rise of telemedicine and technological advancements within healthcare are reshaping the job landscape, creating new roles and necessitating ongoing education for existing professionals. As a result, training providers must continually update their courses and certification processes to keep pace with industry changes.

Given the growing importance of specialized skill-sets in healthcare, organizations like Career Step are well-positioned to flourish. Their tailored programs not only fulfill educational needs but also help address critical labor shortages while contributing to improved patient outcomes across the sector.

Rationale Behind the Deal

The acquisition of Career Step by Revelstoke Capital Partners embodies a strategic investment designed to capitalize on the burgeoning demand for healthcare training. By joining forces with Career Step, Revelstoke aims to enhance the company's operational capabilities through strategic guidance and financial support. This partnership will enable Career Step to accelerate its organic growth efforts and pursue selective acquisitions that could broaden its programming and market reach.

Revelstoke's investment is indicative of its confidence in Career Step’s scalable business model, which aligns well with the evolving landscape of online education and training. The industry’s growth potential presents a compelling opportunity for an investor looking to impact positively and maximize returns.

Investor Information

Revelstoke Capital Partners is a Denver-based private equity firm renowned for its meticulous approach to building industry-leading companies. With a focus on partnering with strong management teams, Revelstoke aims to implement disciplined organic and acquisition strategies that yield superior investment returns. The firm is led by experienced Managing Partners Mark King, Dale Meyer, and Simon Bachleda, who collectively boast over 60 years of private equity expertise.

The team at Revelstoke has successfully completed over 100 acquisitions, representing an aggregate enterprise value of more than $6 billion. This extensive experience equips them with the knowledge and resources necessary to foster growth in their portfolio companies, including Career Step.

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The acquisition of Career Step by Revelstoke is an astute investment, particularly given the company's robust position in a rapidly expanding market. Career Step's proven track record of training individuals in vital skill sets makes it a valuable asset in an industry facing workforce shortages. The alignment of Revelstoke's financial support and strategic insight with Career Step's strategic objectives creates a favorable outlook for growth.

Furthermore, Revelstoke’s deep-rooted connections within the healthcare sector could facilitate beneficial partnerships and expand Career Step's reach in terms of clientele and training offerings. Given the current trajectory of the healthcare training market, the potential for growth and expansion presents a sound basis for an attractive return on investment.

In conclusion, this partnership not only holds promise for Career Step's scalability but also positions Revelstoke to leverage its investment for significant returns in an evolving industry landscape. As demand for specialized training continues to grow, this deal stands as a testament to the proactive strategies employed by both entities to navigate the future of healthcare education.

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