Tom Kelleher, Philip Barratt, Jordan Thomas and Chloe Walsh, from Capital Law’s Corporate team, advised the shareholders of Practice Labs on the deal.
ACI Learning, backed by US private equity firm Boathouse Capital, will integrate Practice Labs’ people, content/intellectual property, virtual lab capabilities, and customer contracts into its core business operations. The Practice Labs brand name will remain in the marketplace alongside the ACI Learning parent brand, and sub-brand ITProTV.
Ricky Doyle, Practice Labs’ co-founder, said:
We have been fortunate to have a long-standing relationship with Capital Law and choosing them to represent us on the most significant transaction in our company’s history was a ‘no brainer’. Not only did the deal team have the skills to navigate the cross border complexities, but were an absolute pleasure to work with. Their dedication and commitment to ‘getting the job done’ was amazing, and needless to say we will be working with them again on any future opportunities.
Tom Kelleher, Head of Capital’s Corporate team, said:
Having worked with Ricky, Mark and the Practice Labs team for over 14 years, we’ve been fortunate to see the business grow significantly and it’s been a joy to work alongside them to date. Bringing two businesses together, particularly when they operate internationally, is always difficult but the teams’ existing relationships and synergies will make for a great partnership between Practice Labs and ACI. We look forward to seeing what lies ahead for the combined business.
Read more about the deal here.