Surgent, a provider of end-to-end professional education from pre-licensure to continuing education for accounting, finance and health care professionals, is receiving an investment from NexPhase Capital LP, an operationally-focused, independent private equity firm.
Historically focused on meeting the highly specialized needs of accounting and tax professionals, Surgent offers online and live CPE courses, and provides nearly 1 million CPE credits annually to tens of thousands of licensed accounting professionals.
In August, Surgent expanded into the health care sector with its acquisition of Pharmaceutical Education Consultants Inc. This evolution has been driven by significant investments in technology and people to build a strong core platform that can be extended into other markets. Surgent is currently rebranding to represent its broader focus and expects to unveil a new and refreshed look next month.
The partnership with NexPhase is expected to propel Surgent's continued expansion. Stephen Hoffman, a NexPhase operating executive and former executive of Prometric Thomson Learning, Element K and Blackboard, will serve as Cchairman of the Surgent board of directors moving forward.
Piper Jaffray served as financial adviser to Surgent and Dentons US LLP and Eisner LLP served as legal counsel. Lowenstein Sandler provided legal counsel to NexPhase on the transaction.