Derry-based e-learning company Learning Pool has secured a substantial investment from Carlyle Cardinal Ireland (CCI). The firm didn’t say how much was invested, but typical CCI investments range from between €5m and €50m.
Founded in 2006 by CEO Paul McElvaney, Learning Pool employs 80 people and services clients in the UK, Ireland and internationally. The company provides a variety of e-learning services to companies and government bodies to help them meet compliance standards and improve employee performance.
Learning Pool’s customers include the NHS, the UK Houses of Parliament, Jury’s Inn, Capita, and British Sugar. Over 80% of local councils in the UK also use Learning Pool’s services.
CCI is a private-equity fund established by The Carlyle Group and Cardinal Capital Group to undertake investments on the island of Ireland. Its investment in Learning Pool is the first Northern Ireland company that CCI has taken a stake in.
According to McElvaney, the investment from CCI will help his firm build out the team and develop new products. Jonathan Cosgrave and John Dolan from CCI will join the board of directors of Learning Pool. “We have always believed in Learning Pool’s potential to take on the world and have doubled our business over the last three years. This investment will fast track our growth and allows us to build out our technology and content at a quicker pace for our customers benefit,” said McElvaney.
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Jonathan Cosgrave, MD of The Carlyle Group, added: “Learning Pool is well positioned to continue growing its share of the estimated £675m UK e-learning market. We’ve been impressed with Learning Pool’s innovative technologies, quality of service and the entrepreneurial leadership team, and we look forward to supporting further growth of the business.”
John Dolan, MD of Cardinal Capital Group, said: “The recent trend has been for companies to spend more of their training budgets online. The ease of access for employees from mobile devices together with a more consistent experience means the e-learning market is growing at over 10% each year. Learning Pool is ideally placed to meet this demand.”
CCI’s previous investments in Irish firms included the likes of Abtran, Carroll Cuisine and Lily O’Briens.
Photo: John Dolan (left) and Jonathan Cosgrave (right) with Learning Pool’s Mark Lynch, Paul McElvaney, Sam Barbee, Louise McElvaney and Deborah Limb
