Carlyle Cardinal Ireland (CCI) has invested in Learning Pool, the Derry-based company which delivers cost effective online learning solutions to organisations throughout the Britain.
The company enjoys a significant presence in the British market where over 80% of local councils use Learning Pool for effective staff training.
CCI, the private-equity fund established by The Carlyle Group (NASDAQ: CG) and Cardinal Capital Group to undertake investments on the island of Ireland, will partner with existing management and staff to continue the company’s growth and drive product innovation.
The financial terms of the investment have not been disclosed.
Founded in 2006 by chief executive, Paul McElvaney, Learning Pool now employs 80 people servicing clients in the Britain, Ireland and internationally.
Every day a community of 1.25 million learners across 350 companies and government bodies uses Learning Pool’s products and services to meet compliance requirements and drive performance improvement.
Learning Pool’s award winning technology and training catalogues are used by a range of companies in both the public and private sectors. Customer organisations include the NHS, the UK Houses of Parliament, Jury’s Inn, Capita, and British Sugar.
Learning Pool’s decision to partner with CCI was driven by the fund’s global contacts and strategic experience in growing similar sized companies.
The investment from CCI will help Learning Pool continue to build out the team and develop new, innovative products to serve existing customers and attract new ones.
Learning Pool’s existing management team, including CEO Paul McElvaney, will continue in their current leadership roles and are investing further as shareholders in the business.
Jonathan Cosgrave and John Dolan from CCI will join the board of directors of Learning Pool.
Paul McElvaney, CEO, Learning Pool, who last month received the award for SME Director of the Year at the 2016 IoD Northern Ireland First Trust Bank Director of the Year Awards, said the investment would “fast track” the company’s growth and allow it to “build out” its technology and content at a quicker pace to the benefit of its customers benefit.
He added; “We have always believed in Learning Pool’s potential to take on the world and have doubled our business over the last three years. In CCI we believe we have exactly the right partners to help us develop our business and help us realise that potential.
“I’m excited about the next phase of Learning Pool’s growth that will see us deliver more product innovation and significant expansion of our customer base and our team.”
Jonathan Cosgrave, Managing Director, The Carlyle Group said Learning Pool was well positioned to continue growing its share of the estimated £675 million British e-learning market.
He added: “We’ve been impressed with Learning Pool’s innovative technologies, quality of service and the entrepreneurial leadership team, and we look forward to supporting further growth of the business.
“We’re also delighted to complete our first investment in Northern Ireland and we continue to look at other potential investments in both Northern Ireland and the Republic of Ireland.”
John Dolan, Managing Director, Cardinal Capital Group said: “The recent trend has been for companies to spend more of their training budgets online.
“The ease of access for employees from mobile devices together with a more consistent experience means the e-learning market is growing at over 10% each year. Learning Pool is ideally placed to meet this demand with their online offering and training catalogues which companies can customise as they require. Effectively, Learning Pool provides its customers with a one-stop solution for their e-learning needs.”
Photo shows, from left, John Dolan, Managing Director, Cardinal Capital Group; Learning Pool’s Mark Lynch, CTO, Paul McElvaney CEO, Sam Barbee, Head of Sales, Louise McElvaney, Head of Business Improvement, Deborah Limb, COO and Jonathan Cosgrave, Managing Director, The Carlyle Group.
If you have a story or want to send a photo or video to us please contact the Derry Now editorial team. Between 9am and 5pm Monday to Sunday please call 028 7129 6600 for Derry City stories or 028 7774 3970 for County Derry stories. Between 5pm and midnight please call or text 07825 711978. Or you can email john.gill@derrynews.net at any time.