The Future of Healthcare Education: Levine Leichtman Capital Partners Sells Therapeutic Research Center

In a major move within the healthcare industry, Levine Leichtman Capital Partners ("LLCP"), a prominent private equity firm based in Los Angeles, announced the sale of its portfolio company, Therapeutic Research Center (TRC), to Colibri Group, a portfolio company of Gridiron Capital. The terms of the transaction were not disclosed. This development marks a significant milestone for TRC, a leading provider of independent, evidence-based continuing education and training for healthcare professionals and institutions.

Founded in 1985 and headquartered in Denver, Colorado, TRC has established itself as a trusted resource for over one million healthcare professionals and nearly four thousand hospitals. The Company's expertise lies in drug therapy recommendations and medication management, providing concise, unbiased, and timely information to support clinical decision-making. With a clinician-centric training platform, TRC has been instrumental in addressing healthcare's critical workforce challenges.

LLCP has been a supportive force in the growth and transformation of TRC, enabling the Company to strengthen its leadership team, enhance commercial operations, and drive new product development. Throughout LLCP's investment period, TRC successfully completed four strategic acquisitions, expanding its clinician base and product offerings. These initiatives have positioned TRC for continued growth and success in the future.

Matthew Rich, a Partner at LLCP, expressed pride in the collaborative efforts with TRC, stating, "We are proud to have supported TRC and its management team in building a market-leading, clinician-centric training platform to solve healthcare's critical workforce challenges." Rich further highlighted the Company's achievements, stating, "The business is well-positioned for continued growth, and we wish Wes and the entire management team continued success in their next chapter with Colibri."

Wes Crews, CEO of TRC, acknowledged the instrumental role played by LLCP, stating, "We are grateful for LLCP's support and guidance. Their strategic insights and partnership approach contributed greatly to the transformation of TRC." Crews emphasized the shared vision of TRC and LLCP, stating, "Together, we have realized our shared vision of helping clinicians operate at the top of their license and improve clinical outcomes, thereby unlocking tremendous value for all stakeholders."

This sale marks LLCP's 18th successful exit since December 2020, further solidifying the firm's expertise in identifying and nurturing promising investment opportunities. TRC was initially an investment of Levine Leichtman Capital Partners V, L.P., and its sale represents a strategic move within the firm's investment portfolio.

The deal was facilitated by Morgan Stanley & Co. LLC, serving as the lead financial advisor to TRC, with support from William Blair & Company, LLC and Deloitte Corporate Finance LLC. Legal counsel in connection with the sale was provided by Kirkland & Ellis LLP.

About Levine Leichtman Capital Partners

Levine Leichtman Capital Partners, LLC is a reputable middle-market private equity firm with a successful track record spanning 39 years. The firm specializes in investing in various targeted sectors, including Franchising & Multi-unit, Business Services, Education & Training, and Engineered Products & Manufacturing. LLCP stands out in the industry due to its differentiated Structured Private Equity investment strategy, which combines debt and equity capital investments in portfolio companies. This unique approach offers management teams tailored growth capital in a flexible investment structure, making it an attractive alternative to traditional private equity.

The global team at LLCP is comprised of dedicated investment professionals led by nine partners with an average tenure of 19 years at the firm. Throughout its history, LLCP has managed approximately $14.1 billion of institutional capital across 15 investment funds and has invested in over 100 portfolio companies. Currently, LLCP manages $9.3 billion of assets and maintains offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm, The Hague, and Frankfurt.

In conclusion, the sale of Therapeutic Research Center (TRC) by Levine Leichtman Capital Partners (LLCP) to Colibri Group marks a significant milestone within the healthcare education sector. TRC's expertise in evidence-based continuing education and training for healthcare professionals has positioned the Company as a trusted resource in the industry. LLCP's support and strategic insights have been instrumental in TRC's growth and transformation, enabling the Company to address healthcare's critical workforce challenges and unlock value for all stakeholders. This sale further underscores LLCP's reputation as a successful private equity firm with a unique investment strategy.