Dow Jones: LLR exits majority stake in VectorLearning to Providence Equity, but reinvests in minority stake
Subscribe in a reader
Subscribe to Philadelphia Tech News by Email
Philadelphia's LLR Partners exited from its majority stake in online education company VectorLearning.com Inc., selling it to PE giant Providence Equity Partners, Dow Jones' LBO Wire reported late last week (subscription required). No financial terms were disclosed.
|Scott Perricelli / LLR website|
VectorLearning currently operates RedVector and Target Solutions, which provides online training for firefighters and emergency medical services providers.
LLR also owns stakes in three other education companies: Orbis Education (training and education services in nursing), Brightside Academy (urban operator of early child-care education centers) and Avenues: The World School (a private school operator).
LLR first invested $24 million in VectorLearning in 2011 through its LLR Equity Partners III LP fund. VectorLearning will continue looking for new vertical opportunities in online professional training, Dow Jones quotes Perricelli as saying.
In addition to VectorLearning and Relias, LLR had three other exits in 2014, all from Philadelphia area companies. Quintiq was acquired by Dassault Systemes for around $336 million, Pet360 was acquired by PetSmart for $130 million plus a potential $30 million earnout, and King of Prussia-based Maxwell Systems was acquired by Oregon-based Viewpoint Construction Software (terms not disclosed).