Citi Capital Strategies Advises Advanced Education Systems, LLC on Its Acquisition...

Citi Capital Strategies Advises Advanced Education Systems, LLC on Its Acquisition by The Riverside Company

NEW YORK--(Business Wire)--
The Riverside Company, a New York, NY and Cleveland, OH based
private equity firm that invests in premier middle market companies,
has acquired a majority interest in Advanced Education Systems, dba
TrainingPro, a leading education and compliance solutions provider for
the mortgage sector.

Citi Capital Strategies, a leading provider of investment banking
services to privately held businesses, served as the exclusive
financial advisor to TrainingPro. The terms of the transaction were
not disclosed.

"We are pleased to team our client with The Riverside Company, a
quality buyer that is committed to working with management to fully
capitalize on TrainingPro's reputation and comprehensive education
solutions," said Eric Williams, Managing Director at Citi Capital
Strategies. "Partnering with Riverside, a firm that understands the
nuances of training and training development will enable us to grow by
staying ahead of the demand for our services. Additionally, our
reputation for helping customers meet compliance, training and
reporting needs will continue to grow as we reach out for new
opportunities to enrich the mortgage industry," said Christopher
Nickerson, Chief Executive Officer of TrainingPro.

The mortgage education sector is benefiting from legislative
efforts at both the National and State levels for all states to adopt
and enhance pre-licensing and continuing education requirements for
mortgage professionals. These efforts come in response to the stricter
corporate governance environment and the need to further
professionalize and standardize the mortgage sector with greater
regulation of brokers and lenders. These favorable dynamics are
driving the trend for more states to adopt legislation requiring
mortgage lenders and brokers to receive industry specific education
prior to receiving a license to practice and to fulfill mandatory
continuing education requisites in order to keep their licenses
active.

"We are building a knowledge base of professional training
companies and see the great growth potential the training industry
represents," said Loren Schlachet, Riverside Managing Partner. "As an
education-solutions provider, TrainingPro offers the necessary tools
for mortgage professionals nationwide to excel in the industry.
Approximately 30 states currently have training requirements for
mortgage professionals and, with the current public focus and scrutiny
on the mortgage industry, the number of states and the overall amount
of mortgage industry regulation and training is certain to increase,
providing a base of new business for TrainingPro."

Citi Capital Strategies is a leading investment bank dedicated to
serving the needs of closely held and family owned businesses. Citi
Capital Strategies specializes in mergers, acquisitions,
recapitalizations, ESOPs, corporate real estate investment banking
services, and capital solutions for private businesses. Citi Capital
Strategies is a division of Citigroup Global Markets Inc. Member SIPC.
For more information, visit our website at
www.citicapitalstrategies.com

Advanced Education Systems LLC, dba TrainingPro, is the national
leader in mortgage education. Founded in 1999, TrainingPro is a
preferred mortgage training institution educating loan officers and
mortgage brokers in small to large companies, state associations and,
most recently, the National Association of Mortgage Brokers. As a
mortgage school, TrainingPro provides the tools for industry
professionals to excel in the industry. The curriculum is
state-accredited, comprehensive and flexible and the courses are key
components in obtaining and renewing loan officer licenses and
maintaining compliance with federal and state regulations. Courses are
offered in online, in-person and home-study formats. Visit
www.trainingpro.com for complete details.

The Riverside Company is the largest global private equity firm
focused on the smaller end of the middle market ("SEMM") and is one of
the industry's most experienced leveraged buyout investors. Riverside
specializes in investing in premier SEMM companies (those with
enterprise values of less than $150 million) and partners with strong
management teams to build companies through acquisitions and
value-added growth.

Citi Global Wealth Management
Mark Costiglio, 212-559-2178
Media Relations
mark.costiglio@citi.com

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