Investcorp has acquired a controlling stake in Revature, a technology talent development company.
The terms of the transaction have not been disclosed.
Revature, one of the largest employers of university graduates in the US, offers no-cost coding immersion programs that are the first in the industry to address the growing technology skills gap. Revature’s unique model provides turn-key talent acquisition services for its Fortune 500 and consulting clients. For customers, Revature recruits, develops and deploys enterprise-ready technology talent that enables these corporates to succeed. For university graduates, Revature provides coding immersion programs that offer pathways to building careers as technology professionals.
Software engineers trained by Revature go on to work at leading companies across the globe. The company is based in Reston, Virginia, but serves clients and candidates across the country. Revature has also built academic partnerships with top universities including Arizona State University, the City University of New York, the University of South Florida, the University of Texas at Arlington, George Mason University, and West Virginia University.
“Given our expertise in the education as well as IT staffing sectors through our prior investments in the US, we see an incredible partnership opportunity with Revature,” says Rishi Kapoor, Co-CEO of Investcorp. “This investment also underscores our continued focus on services driven businesses using innovative approaches and business models to better serve core industry verticals across the US.”
“Through Revature’s mission of empowering the next generation of technology professionals, it has completely redefined the way companies find, train and retain technology talent,” says Maud Brown, Managing Director in Private Equity at Investcorp. “With the race for computer science talent continuing to gather pace, we are excited to help Revature accelerate its remarkable growth and further expand its Fortune 500 client base.”
Revature’s CEO Ashwin Bharath will stay on to continue to help oversee the growth and direction of the company as part of the transaction.
“For us, there is nothing more important than our mission of creating pathways for university graduates to reach their full potential as technology professionals,” says Bharath. “With Investcorp, we’re excited and confident that this partnership will enable us to better serve our clients and maximise our growth in the coming years.”
Ryan Craig, Managing Director of University Ventures, which exited its investment, adds: “It has been an honour to support the development and rapid growth of Revature’s pioneering Employer-Pay model for Last-Mile Training. By eliminating education friction for candidates and hiring friction for employers, Revature demonstrates the revolutionary potential for frictionless pathways to employment to close America’s skills gap.”
Jefferies LLC served as exclusive financial advisor to Revature.
