Skillsoft sold to another private equity firm
Summary
European private equity firm Charterhouse Capital Partners has reached a deal to acquire Skillsoft Ltd., the e-learning firm announced March 14. The price would give Skillsofts current private equity owners – Berkshire Partners, Advent International Corp. and Bain Capital – a $1.7 billion profit on their original $1.1 billion investment they made when acquiring Skillsoft and taking it private in 2010. “We have experienced great success during our four-year run with Berkshire Partners, Advent International and Bain Capital, and greatly appreciate the support and guidance they have provided to our team,” said Chuck Moran, CEO of Skillsoft. Moran said the firm is “excited to continue the journey with Charterhouse,” which “will provide us with new and exciting opportunities as we continue to deliver significant value to our customers and partners.” Skillsoft provides e-learning solutions to more than 6,000 customers around the world. It uses cloud computing, which allows clients to reduce costs by ditching bulky local servers for network-based software and storage in remote data centers.
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