Gridiron-Backed Colibri Group Acquires TRC Healthcare
Further Enhances Industry-Leading Healthcare Learning Solutions
NEW CANAAN, CT, November 21, 2023 – Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce that its portfolio company, Colibri Group (“Colibri”), a professional education company with leading brands that provide learning solutions to licensed professionals, has acquired TRC Healthcare (“TRC”) from Levine Leichtman Capital Partners.
With this partnership, Colibri bolsters its Healthcare ecosystem with the addition of a market-leading Pharmacy product suite and a diversified continuing education offering. TRC provides evidence-based medication recommendations and continuing education services through a digital offering to pharmacists, pharmacist technicians, providers, and nurses via institutional and individual subscriptions. A market-leading provider of healthcare training services, TRC serves over 1 million clinicians, 3,500+ hospitals, and a vast network of pharmacies across its portfolio of 10 brands.
“TRC is a fantastic business that will accelerate our focus around becoming the most admired professional learning company in the world. Wes Crews and the world-class team at TRC will contribute significantly to achieving this vision,” said Jeff James, Chief Executive Officer of Colibri.
“As our seventeenth strategic partnership since investing in Colibri in May 2019, TRC marks a continuation of Colibri’s acquisition strategy to diversify end markets served, enhance product offerings and expand geographically,” said Will Hausberg, Senior Managing Director at Gridiron Capital. “TRC is a strong fit within the Colibri platform given its alignment with our strength and core offerings: mandatory, compliance-based education serving learners through online modalities.”
“With the addition of TRC, healthcare will become Colibri’s largest vertical, serving all major clinical professions, including physicians, nurses, pharmacists, nurse practitioners and allied health professionals,” Doug Rosenstein, Managing Director at Gridiron Capital added.
“We are proud of the collaboration between the Colibri and Gridiron teams to achieve this strategic milestone and are excited to welcome TRC to the team,” said Kevin Jackson, Managing Partner at Gridiron Capital.
Houlihan Lokey served as Colibri and Gridiron’s financial advisor and exclusive placement agent in the purchase of TRC Healthcare. Robert W. Baird & Co. also served as a financial advisor. Finn Dixon & Herling LLP served as legal counsel. Morgan Stanley & Co. LLC served as the lead financial advisor to TRC, with support from William Blair & Company, LLC and Deloitte Corporate Finance LLC, and Kirkland & Ellis LLP served as legal counsel in connection with the sale.
About Gridiron Capital
Gridiron Capital is an investment firm focused on partnering with founders, entrepreneurs, and management teams, and creating value by building middle-market companies into industry-leaders in branded consumer, B2B and B2C services, and niche industrial segments in the United States and Canada. We help transform growing companies by winning together through hard work, partnerships grounded in shared values and a unique culture that comes from hands-on experience building and running businesses. As a team led by former operators and entrepreneurs, we know what it takes to run successful businesses on a day-to-day basis. Additional information is available on the firm’s website: www.gridironcapital.com.
About TRC Healthcare
TRC Healthcare is a premier source of lifelong learning solutions for healthcare professionals. TRC is most recognized for their education and CE offerings within the highly regarded Pharmacist’s Letter, Prescriber’s Letter, and Pharmacy Technician’s Letter. TRC also offers Pharmacy Technicians University, the leading online training program for pharmacy technicians. The Natural Medicines database makes it easy for subscribers to find unbiased, evidenced-based research about alternative drug therapies.
About Colibri Group
Colibri Group is building the future of professional education. Today, millions of licensed professionals start and advance their careers through the company’s online and in-person learning solutions for licensing, continuing education, test preparation and professional development. Headquartered in St. Louis, Missouri, Colibri Group provides a holistic learning experience for students and professionals to achieve more and thrive throughout their careers in real estate, financial services, teacher education, healthcare, valuation and property services, among other professions. Visit colibrigroup.com for more information.
For Additional Information:
Colibri Group
Maite Salazar, Chief Marketing Officer
media@colibrigroup.com
Gridiron Capital
Kevin Jackson, Managing Partner, Gridiron Capital, LLC
kjackson@gridironcapital.com