Penn Foster’s Combination with Carrus

Kirkland & Ellis advised Penn Foster on the deal.

Penn Foster, a leading provider of digital and data driven learning solutions for high demand skills and jobs, executed its combination with Carrus, one of the nation’s most trusted online healthcare training and professional development providers.

The combined company will serve more than 400,000 enrollees per year with 115,000 participating in its healthcare training vertical, making it one of the largest skills-based training platforms in the country.

Penn Foster is a portfolio company of BayPine, a private investment firm, and Two Sigma Impact, a business of Two Sigma focused on workforce impact. Financial terms were not disclosed.   

Carrus delivers quality, trusted healthcare learning content, continuing education, and certification management to new learners, healthcare professionals, and institutions through an integrated technology platform that provides the most seamless healthcare learning experience possible.

The Kirkland team was led by corporate partners Ravi Agarwal (Picture) and Lukas Richards and associates Arthur Holland and Sara Phipps and debt partners Melissa Hutson and East Berhane, and included corporate partner Michael Weisser. 

Involved fees earner: Ravi Agarwal – Kirkland & Ellis; East Berhane – Kirkland & Ellis; Arthur Holland – Kirkland & Ellis; Melissa Hutson – Kirkland & Ellis; Sara Phipps – Kirkland & Ellis; Lukas Richards – Kirkland & Ellis; Michael Weisser – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Penn Foster Inc;