Harris Williams & Co has advised on the sale of Silverchair Learning Systems, LLC (SLS), a healthcare IT (HCIT) provider delivering online learning and communication solutions to the senior care industry.
SLS, a subsidiary of Silverchair Holdings, Inc. (Silverchair), was sold to Vista Equity Partners (Vista). The transaction was led by Sam Hendler from the firm’s Technology, Media & Telecom (TMT) Group and Cheairs Porter from the firm’s Healthcare & Life Sciences (HCLS) Group.
“Attracting capital from an investor of Vista’s caliber is a testament to what the SLS team has achieved and the ongoing opportunity for differentiated SaaS businesses serving the healthcare market,” says Sam Hendler, a director in Harris Williams & Co’s TMT Group who leads the firm’s efforts in HCIT.
“We were very pleased to work with Silverchair’s shareholders and the SLS management team,” says Cheairs Porter, a managing director in Harris Williams & Co.’s HCLS Group. “SLS provides a unique learning management solutions platform within the senior care industry and Vista will be a great partner for the management team going forward.”
SLS is an ANCC-accredited online education and communication systems provider that works with senior care providers who want to improve training and communications (both internal and external) in their organisations. SLS products include a user-friendly online training solution that improves compliance; an employee feedback system that delivers surveys, analyses results and provides remediation tools; and an online communication and education system for resident families.
Silverchair provides advanced semantic product development solutions to scientific, technical and medical (STM) publishers, professional societies and the federal government. The divestiture of SLS will enable Silverchair to calibrate its vision and resources by accelerating technology investments, maximising market opportunities and building market share in the STM information and knowledge management space.
Vista, a US-based private equity firm with offices in San Francisco, Chicago and Austin, currently invests more than USD6.6 billion in capital committed to dynamic, successful technology-based organisations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realising their full potential. Vista’s investment approach is anchored by a sizeable long-term capital base, experience in structuring technology-oriented transactions and proven management techniques that yield flexibility and opportunity in private equity investing.
