Norwest Mezzanine Partners Supports Revelstoke Capital Partners’ Acquisition of Career Step
February 12, 2015
Minneapolis, Minnesota – Norwest Mezzanine Partners (NMP) has announced that it has invested subordinated debt and equity to support Revelstoke Capital Partners in its acquisition of Career Step LLC, an online provider of career-focused training programs.
Based in Provo, Utah, Career Step provides online educational services to independent learners and corporate employees seeking cost effective job specific training solutions to help them gain specific career skills and prepare for nationally recognized certification exams. The majority of Career Step’s programs are focused in the healthcare industry, with particular emphasis on medical coding, billing, transcription and administrative functions. Career Step delivers its content direct to learners online, through academic partners such as community colleges, and in partnership with corporate employers like hospitals.
This is the second Revelstoke-sponsored transaction NMP has completed in 2015. John Hogan, a NMP partner, stated “On behalf of the NMP team, we are excited to support Revelstoke in this transaction. Under the leadership of CEO Steve Tober, Career Step has developed innovative curriculum that engage learners and help put them to work in the high growth healthcare industry. It is well-positioned for continued momentum.”
“As they have demonstrated throughout our long relationship working together, NMP is a strong, proven investment partner, and their flexibility and support was valued throughout the entire transaction process,” stated Mark King, CEO, Managing Partner and Co-Founder of Revelstoke.
Please visit www.careerstep.com to learn more.