CeriFi Expands Into Insurance Training Through Acquisition of CPMI Professional Development
New York, USA — April 5, 2021. CeriFi, a Leeds Equity Partners portfolio company, today announced the acquisition of CPMI Professional Development (“CPMI”), a leading provider of insurance pre-licensing and continuing education courses. Founded in 1998, CPMI helps insurance agents and agent candidates pass property, casualty, life, and health insurance licensure exams and meet state continuing education requirement across the U.S. CPMI represents the eighth acquisition for CeriFi, a leading provider of financial education, training and certification solutions to the financial services industry. Terms of the transaction were not disclosed.
“CPMI has built an impressive portfolio of insurance pre-licensing and continuing education courses that enable insurance agents to pass their exams, excel professionally and maintain their licensing requirements,” said Matthew Given, CEO of CeriFi. “We are excited to leverage their deep insurance content and domain expertise in combination with our world-class learning platform and vast financial education offerings to further address the needs of our financial services customers.”
Paul Mensinger, President of CPMI, said “I am very excited about our partnership with CeriFi given its unique focus on serving financial institutions. CeriFi’s significant strategic and financial support and extensive customer relationships will enable us to further expand our industry leading pre-licensing and continuing education solutions more broadly across the industry.”
“We are excited to partner with Paul and Clair Mensinger and the CPMI team,” said Eric Geveda, Managing Director of Leeds Equity Partners. “CPMI’s insurance training products deliver best-in-class learning outcomes in the insurance industry and align perfectly with CeriFi’s mission of holistically serving the needs of professionals across the financial services industry. We look forward to continuing to execute on our growth strategy, both organically and through add-on investments.”
Polsinelli served as legal counsel to Leeds Equity Partners. Dorsey & Whitney served as legal counsel to CPMI.
CeriFi, formed in 2017, is a diversified education, training and certification provider serving professionals across the financial services market. To-date, CeriFi has acquired eight highly complementary companies, including Dalton Education, Money Education, Keir Financial Education, Pass Perfect, the CFP assets of LoneStar Financial Education, Association of Certified Financial Crime Specialists, Bionic Turtle and CPMI.
For additional information on CeriFi, see http://www.cerifi.com/
CPMI Professional Development, Inc. has helped candidates prepare to take and pass state Property and Casualty License and Life and Health Insurance License exams since 1998. CPMI partners with several national insurance companies, colleges and universities to offer insurance pre-licensing and continuing education courses. CPMI’s online courses provide a full suite of e-learning textbooks, videos, and test simulation programs to prepare candidates.
For additional information on CPMI, see http://www.cpmipro.com/
About Leeds Equity Partners:
Leeds Equity Partners is a New York-based private equity firm dedicated exclusively to partnering with management teams in the education, training and information services industries (the "Knowledge Industries"). The firm was founded in 1993 and has managed approximately $3.9 billion of capital across a broad spectrum of companies within the Knowledge Industries. Leeds Equity seeks to leverage its sector-focused expertise and market insights to create long-term value for its partner companies.
For additional information on Leeds Equity Partners, see http://www.leedsequity.com/