10/20/2022
Citizens Advises EduMind on its Acquisition by Axcel, a portfolio company of Alpine Investors
PROVIDENCE, RI – Citizens M&A Advisory announced today that it served as the exclusive financial advisor to EduMind, LLC, on its sale to Axcel, a portfolio company of Alpine Investors.
Headquartered in Columbus, OH, EduMind is a global developer and provider of professional exam preparation services and technology through its two content brands, EduMind and School of PE. Founded in 2004 by Radhika and Vinod Dega, the company’s proprietary learning management system facilitates live and on-demand courses for professional engineers, architects and other technical professionals to train for certification exams.
EduMind founder Vinod Dega said: “Radhika and I built EduMind over 18 years with a passion for supporting professionals in their career advancement journey and we needed expert advice when we began considering our succession planning alternatives. We are grateful to Andrew Male and the Citizens M&A team for the expert counsel they provided EduMind throughout this process. Their transaction experience, industry knowledge, analytics resources and strategic recommendations were critical in helping us decide that this partnership with Alpine and Axcel was the ideal outcome for EduMind. We are equally grateful to our dedicated and loyal team and are excited to see EduMind thrive in its partnership with Axcel.”
Andrew Male, managing director at Citizens M&A Advisory, said: “It was an honor and pleasure to advise the Dega family through this milestone transaction. Radhika and Vinod have built an exceptional education and training technology platform with an unmatched value proposition in its niche supported by world-class employees. We are excited to see EduMind continue its impressive growth as part of Axcel.”
Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has more than 150 M&A professionals specializing in a range of industries across the United States. Citizens Capital Markets & Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $226.7 billion in assets as of June 30, 2022. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,300 ATMs and more than 1,200 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
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