Harris Williams Advises TPC Training on its Sale to American Safety Council

Rhea-AI Summary

Harris Williams, a global investment bank, advised TPC Training on its sale to American Safety Council (ASC), a Ridgemont Equity Partners portfolio company. TPC, based in Chicago, specializes in workforce training and compliance software solutions. This transaction is expected to create a strong synergy between TPC and ASC, enhancing workforce development and enterprise compliance. The deal reflects growing demand for training solutions amid industry worker shortages and a skills gap. Harris Williams highlighted the premium nature of the transaction within the professional education and compliance technology sectors.

Positive

• Strategic synergy created by TPC's sale to ASC enhances workforce development and enterprise compliance.
• Growing demand for TPC's solutions driven by industry worker shortages and a widening skills gap.

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• None.

RICHMOND, Va.--(BUSINESS WIRE)-- 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.

“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.”

“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.

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.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

The Harris Williams Technology Group advises leading private and public companies, founders, and private equity, growth equity and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The Technology Group has deep domain expertise in software and technology-enabled services and dedicated focus areas across a variety of vertical software applications and end markets. For more information on the Technology Group and its recent transactions, visit the Technology Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211202005730/en/

For media inquiries, please contact Julia Moore at media@harriswilliams.com.

Source: Harris Williams LLC

FAQ

What does the sale of TPC Training to American Safety Council mean for investors?

The sale is expected to create a strategic synergy that enhances workforce training and compliance solutions, potentially leading to increased market opportunities.

When was TPC Training sold to American Safety Council?

The sale was announced by Harris Williams on December 2, 2021.

Who advised on the sale of TPC Training?

The sale of TPC Training was advised by Harris Williams, a global investment bank specializing in M&A advisory.

How does the transaction impact TPC's market position?

The transaction is projected to strengthen TPC's market position by combining its offerings with ASC's capabilities in compliance training.

What are TPC's main services?

TPC provides workforce training, performance management, and environmental, health, and safety compliance software solutions.