Tuesday, May 13, 2014

Falfurrias buys online training company

Charlotte-based Falfurrias Capital Partners said Tuesday that it has bought a controlling stake in American Safety Council, a company that provides online training on workplace safety, medicine, and in other industries where regulations drive ongoing learning.

It's the private equity firm's first investment in the space. Falfurrias was founded by former Bank of America CEO Hugh McColl and former chief financial officer Marc Oken. The company said it has been looking to invest in the e-Learning industry.

“There’s a macrotrend toward moving education on all fronts toward the Internet," Oken told the Observer. ""We know it’s a good growth industry."

For example, one of American Safety Council's core products is online driving remedial programs. Instead of sitting in a class with a certified instructor, people can complete an eight-hour course on their computer.

The investment in American Safety Council is part of Falfurrias's $127 million second fund, which closed in September. It is now 44 percent committed, Oken said.


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