CeriFi Completes Acquisition of PassPerfect
NEW YORK, Aug. 15, 2018 /PRNewswire/ -- CeriFi, a Leeds Equity Partners portfolio company, today announced the acquisition of PassPerfect, the leading provider of Financial Industry Regulatory Authority ("FINRA") license exam training to the financial services industry. Founded in 1988, PassPerfect partners with leading financial institutions to ensure employees are effectively trained for and in compliance with FINRA licensure, rules and regulations. PassPerfect represents the fourth acquisition for CeriFi, a leading provider of financial education, training and certification solutions to the financial services industry. Terms of the transaction were not disclosed.
Ed Fleur, President of PassPerfect, said, "I am very excited to partner with Leeds Equity and join CeriFi. Our goal has always been to provide the best quality content and learning outcomes in the industry. Leeds Equity and CeriFi offer us the financial and strategic support to continue to innovate and grow in an evolving market."
"After several years of discussions, we are excited to partner with Ed and the PassPerfect team,” said Jacques Galante, Managing Director of Leeds Equity Partners. "The acquisition of PassPerfect represents a further step in Leeds Equity's strategy of building the premier education, training and certification provider focused exclusively on the financial services industry.”
Eric Geveda, Principal of Leeds Equity Partners, said, "PassPerfect broadens CeriFi's training and certification solutions, thereby enhancing its position as the best in class provider of lifelong learning for financial services professionals. We intend to continue to expand CeriFi's product offering to more holistically address the needs of financial institutions through organic and acquisition initiatives."
Polsinelli served as legal counsel to Leeds Equity Partners. Morrison Cohen served as legal counsel to PassPerfect.
About Leeds Equity Partners
Leeds Equity Partners, LLC, is a New York-based private equity firm focused exclusively on investing in the education, training, information services and software sectors (the "Knowledge Industries"). Since 1993, Leeds Equity has provided more than $1.5 billion of private equity capital to a broad spectrum of companies across the Knowledge Industries. Leeds Equity seeks to leverage its sector-focused expertise and market insights to create long term value for its portfolio companies. CeriFi is one of five investments in Leeds Equity Partners most recent private equity fund, Leeds Equity Partners VI, L.P.
For additional information on Leeds Equity Partners, see Leeds Equity.
CeriFi, formed in 2017, is a diversified education, training and certification provider serving professionals across the financial services market. To-date, CeriFi has made four acquisitions, including Dalton Education, Money Education, Keir Financial Education and PassPerfect.
PassPerfect is a leading provider of FINRA licensing exam training to the financial services industry. Founded in 1988, PassPerfect has successfully trained over 1 million securities professionals with its proprietary FINRA exam preparation solutions. PassPerfect offers a comprehensive solution offering that is differentiated based upon its superior quality of content and unique interactive learning technology.
For additional information on PassPerfect, see PassPerfect.
About Dalton Education
Dalton Education is a leading provider of Certified Financial Planner ("CFP") education and exam preparation solutions. Dalton Education's CFP education course is a 9-month course that satisfies the requirements to sit for the CFP exam and its exam preparation course is a 2-month course that prepares students to take the CFP exam. Dalton Education provides its high-quality CFP education in partnership with leading university partners.
For additional information on Dalton Education, see Dalton Education.
About Money Education
Money Education publishes digital textbooks and several reference workbooks for tax and financial planning with titles such as "Fundamentals of Financial Planning," "Insurance Planning" and "Income Tax Planning".
For additional information on Money Education, see Money Education.
About Keir Financial Education
Keir is a leading provider of training solutions for professionals looking to pass financial and insurance certification exams. Founded in 1968, Keir's textbooks and review courses prepare financial services professionals for the CFP, FINRA and several property and casualty examinations.
For additional information on Keir Financial Education, see Keir Success.