An Affiliate of DLJ Merchant Banking Partners Purchases Professional Career Development Institute, LLC.NEW YORK -- Professional Career Development Institute, LLC ("PCDI PCDI Professional Career Development Institute PCDI Prowers County Development, Inc. (Lamar, CO) PCDI Per Capita Disposable Income PCDI Patient-Centered Data Input "), a leading provider of distance education, announced today that PCDI has been acquired by DLJ Merchant Banking Partners DLJ Merchant Banking Partners (DLJMB) is a LBO-focused private equity firm of Credit Suisse. DLJMB has offices in New York, London and Los Angeles. External links
Gary Keisling, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of PCDI, said "This is an exciting time for PCDI. Together with Sterling Capital Partners we have developed PCDI into a leading competitor in the field of distance education. The Sterling team has provided valuable advice and resources as PCDI reached new milestones and implemented strategies resulting in significant growth. Looking forward, the management team is excited about the opportunity to work with DLJ Merchant Banking Partners. Together we will grow the company as a leading global competitor in distance education by rapidly developing new products, opening new markets and continuing our improvements to the business model. DLJMB is a leading private equity investor and we are impressed with the resources and talent they are bringing to this exciting opportunity. We very much look forward to working with them to further grow and develop this dynamic company." Thompson Dean, Managing Partner of DLJ Merchant Banking Partners, said "We are excited about the opportunity to partner with a management team led by Gary Keisling, which has achieved an impressive track record and with whom we share a compelling vision. We look forward to working with Gary and his team to continue to improve and expand PCDI's tradition of delivering high quality distance education." Sterling Capital Partners' Senior Managing Director Rick Elfman said, "This has been a very satisfying transaction for Sterling and the shareholders of the Company. DLJMB's strong level of interest is a great complement to the value and market presence that PCDI has built. The sale of PCDI is an excellent example of Sterling's strategy to enhance a company's value through financial support, product line expansion, management equity incentives, and strategic acquisitions. We congratulate the management team, led by CEO Gary Keisling, for the success achieved by the Company." About PCDI Professional Career Development Institute, LLC is a privately held distance education company providing accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. high school programs, postsecondary career diploma programs, and associate and master's degree programs in all 50 states and internationally. About Sterling Capital Sterling Capital Partners, L.P., with offices in Northbrook, IL and Baltimore, MD, is a leading provider of equity for middle market buyout transactions. Since its founding in 1983, Sterling has operated successfully in a variety of economic and market environments and has completed over 40 acquisitions, including strategic add-ons. The principals of Sterling Capital Partners have extensive investment and operating experience and currently manage in excess of $800 million in capital commitments. About DLJ Merchant Banking Partners DLJ Merchant Banking Partners (DLJMB) is a leading private equity investor that has a 20-year record of investing in leveraged buyouts and related transactions across a broad range of industries. DLJMB, with offices in New York, London, Houston and Buenos Aires, is part of Credit Suisse First Boston's Alternative Capital Division (ACD (Automatic Call Distributor) A computerized phone system that responds to the caller with a voice menu and connects the call to the appropriate agent. It can also distribute calls equally to agents. ), which is one of the largest alternative asset managers in the world with more than $37 billion of assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . ACD is comprised of $22 billion of private equity assets under management across a diverse family of funds Family of Funds A group of mutual funds offered by one investment or fund company. Each mutual fund has different characteristics and can range depending on investment objective. Also referred to as a "Mutual Fund Family" or simply a "Fund Family". , including leveraged buyout funds, mezzanine funds, real estate funds, venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: , fund of funds Fund of Funds A mutual fund that invests in other mutual funds. Notes: For example, an investor would select a general risk profile and the fund-of-funds manager would pick underlying investments from a range of products managed by external managers. and secondary funds, as well as more than $15 billion of assets under management through its hedge fund (both direct and fund of funds), leveraged loan and CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the businesses. |
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