Renovus Capital Partners Invests in Telemedia, an Industrial Worker Training Company
Wynnewood, PA – Renovus Capital Partners (“Renovus” or the “Fund”) announced today an investment in Telemedia, LLC (“Telemedia” or the “Company”). Renovus is an education-focused private equity firm based outside of Philadelphia, PA.As part of the transaction, Renovus provided the capital for Telemedia to acquire American Trainco, Inc.
Telemedia, based outside of Chicago, Illinois, is a provider of technical skills training content and programs for large industrial companies around the world. Delivered in both online and print formats, these programs train industrial workers to maintain and operate complex machinery, observe proper safety precautions and comply with government regulations. The Company’s customers span all industries andincludesuch top tier companies as Boeing, International Paper and Jones Lang LaSalle.
Renovus, after meeting Telemedia about a year ago, identified a potential acquisition for the Company that directly complemented its current offering. American Trainco, based outside Denver, Colorado, provides industrial worker training through open enrollment workshops held around the country as well as at major corporations. These programs are delivered through a network of experienced instructors, and attendees are recruited through the use of direct marketing and a direct sales force. Renovus recognized the potential synergies of combining Telemedia’s deep library of content with American Trainco’slive instruction resources and sales expertise, and approached both parties about consummating a transaction using capital from Renovus.
“Since I founded the Company in 1969, we have devoted significant resources to developing the best content for industrial worker training,” noted John Zenko, Telemedia founder and owner. “But we never had the marketing and delivery channels to maximize the return on that investment. With American Trainco we get both a direct marketing channel and a network of instructors to deliver our content.”
“One of the key challenges that the American economy is facing is a shortage of skilled industrial workers,” added Andrew Kauser, Telemedia CEO. “With the baby boom generation of workers retiring and community colleges having largely abandoned vocational training, industrial companies have a real need for worker training solutions. With Telemedia’s content and American Trainco’s marketing and delivery channels, the combined business is well-positioned to capitalize on this need.”
“Over the past year, we spent a lot of time getting to know both businesses and developing a vision for the combined Company,” added Jesse Serventi, a Renovus founder. “We heard time and again from industrial companies about the challenges they face in finding skilled workers and the efficacy of the training provided by both Telemedia and American Trainco.”
“Bringing these two companies together was quite an involved process, perhaps the most complex deal we have done,” concluded Brad Whitman, a Renovus founder.”But at the same time, the growth opportunities created by the transaction should make all of that work worthwhile.”
DLA Piper advised Renovus on the transaction while Neil, Gerber & Eisenberg advisedTelemedia.
About Renovus Capital Partners
Founded in January 2010, Renovus Capital Partners is a $185 million, education-focused private equity fund based in Wynnewood, PA, a suburb of Philadelphia.Renovus invests in small and mid-sized businesses within the education and training sectors, including both educational institutions and companies that provide these institutions with technology, content and services.The Fund is particularly interested in growth-oriented businesses, and the Renovus team actively partners with management to build its portfolio companies through acquisitions, new strategic initiatives and operational improvements.The Renovus team has a combined 50+ years of experience investing in the education and training sectors and the founding partners have been working together since 2005.Renovus is a licensed SBIC.For additional information on Renovus Capital Partners, see www.renovuscapital.com.