Private equity firm the Riverside Co. is backing another e-learning company, this time investing in Mintra Trainingportal AS.
Mintra, headquartered in Oslo, Norway, developed a learning-management system to provide training to oil and gas company employees. The company provides both e-learning and classroom classes through a subsidiary in Aberdeen, Scotland. Terms of the investment were not disclosed. This is Riverside's first investment in Norway.
Riverside's investment should help Mintra expand internationally.
Riverside has completed more than 45 transactions in the education space. The firm is currently building up a real estate e-learning company called Grace Hill. Earlier in December, Riverside added the Training Factor, a real estate education company, to Grace Hill.
The Cleveland and New York-based firm's other recent transactions include the sale of Precision Wire Components to Creganna-Tactx Medical, and the exit of Baby Jogger, which it sold to Newell Rubbermaid (NYSE: NWL) for $210 million.
BA-HR, Pinsent Masons, Ernst & Young and Arkwright advised Riverside on the deal. Nordea provided financing.