360Training Announces Investment from PWP Growth Equity and RedHawk Investment
Investment positions 360Training for continued growth and future acquisitions
Thomas Anderson named Chief Executive Officer
Samantha Montalbano named Chief Operating Officer
AUSTIN, Texas, March, 7, 2018 – 360Training (“360Training” or the “Company”), a provider of online training courses primarily for regulated industries, today announced an investment from PWP Growth Equity, the middle market private equity group of Perella Weinberg Partners, and RedHawk Investment, a private investment entity founded and led by Thomas Anderson. The investment will enable the Company to continue to invest in people, systems and processes, while expanding its eLearning offerings in new and existing markets through organic growth and potential add-on acquisitions in the online training, compliance, and certification industries. Terms of the transaction were not disclosed.
The Company also announced today that as part of the investment, Mr. Anderson has been named Chief Executive Officer, succeeding Ed Sattar, who is leaving the Company to focus on his ongoing entrepreneurial projects. Mr. Anderson is an executive with over three decades of experience across a range of industries. Prior to joining 360Training, Mr. Anderson held leadership roles at Exeter Finance Corp., Education Dynamics, Integrity Interactive, Sally Mae, Upromise, and Capital One.
The Company also named Samantha Montalbano Chief Operating Officer. An experienced senior leader and operator, Ms. Montalbano and Mr. Anderson have several years of experience working together to drive growth and deliver long-term value creation at various companies. Both appointments are effective immediately.
“PWP Growth Equity’s significant experience partnering with growth-oriented companies in the services industry will be invaluable to our Company as we continue to execute on our primary mission — delivering high-quality, convenient training courses for our customers. This investment allows us to further capitalize on the opportunities we see in the online training market and I look forward to working with the 360Training team to best serve our customers,” said Mr. Anderson.
Henry Heinerscheid, Managing Director at PWP Growth Equity, commented, “As the market for online training continues to experience tremendous growth, we are excited to partner with Thomas, Samantha and the rest of the team at 360Training to help support their strategic goals. We thank Ed for the tremendous job he has done in building 360Training into an industry leading SaaS-based solutions provider. 360Training has set itself apart by focusing on exceptional quality standards while targeting learners, educators, and business partners.”
As a part of the investment, Mr. Heinerscheid, Chip Baird (Co-Head of PWP Growth Equity), and Mr. Anderson have been named to the Board of Directors.
Vista Point Advisors, a San Francisco based boutique investment bank, acted as the exclusive financial advisor to 360Training.
360Training was founded in 1999, offering online training courses to serve the compliance needs of employees and companies in regulated industries. The Company has since grown to provide training solutions covering environmental health and safety, food and beverage, real estate, power and energy, industrial services, financial services, business skills, ethics, and healthcare. The Company’s offerings range from compressed, individual courses to comprehensive career training programs, and encompass general career advancement training in addition to regulatory-driven certifications. 360Training is headquartered in Austin, Texas and has additional offices in Karachi, Pakistan and Manila, Philippines.
About PWP Growth Equity
PWP Growth Equity is the middle market private equity group of Perella Weinberg Partners, managed by Chip Baird and David Ferguson. PWP Growth Equity manages private equity funds with aggregate commitments of $1.35 billion focused on growth-oriented, lower middle market companies, primarily in the United States, across the consumer, services, and industrial sectors. PWP Growth Equity seeks to partner with existing owners and management teams, providing both capital and experience in a tailored and flexible structure, to support the growth plans and vision for value creation. PWP Growth Equity Fund I investments include: Delphon Industries, Luna Grill, Hyphen Solutions, Black Bear Diner, MOD Pizza, Build-A-Sign, MSA Security, Western Window Systems, and YouFit Health Clubs. For more information on PWP Growth Equity, please visit http://www.pwpgrowthequity.com.