Steele Compliance Solutions has added extensive training and awareness content to its third-party compliance management software and due diligence services, through the acquisition of Compliance Wave.
Compliance Wave is a specialist in compliance micro-training content. With a client base of Fortune 500 companies, Compliance Wave provides a library of over 2,000 micro-learning & communication tools in more than 30 languages. The content provides short, engaging and retainable information that is not only fun for the end user to consume, but is highly effective in getting complex compliance concepts through in a meaningful way.
Compliance Wave adds to Steele’s already robust compliance portfolio and supports Steele’s strategy to provide an end-to-end compliance offering to its clients. The addition of training content to Steele’s industry leading third-party management solutions allows compliance programs to instil a culture of compliance throughout both their organisation and the third parties they do business with.
“As we increase our footprint in the compliance market and listen to clients’ objectives, learning content is a critical component in helping compliance officers create a compliance culture,” says Eric Lochner, Steele’s CEO. “What is great about Compliance Wave’s content is that it drives that engagement and positive change without creating training fatigue. It brings risk-related issues to the forefront for vendors and employees in a way that is exciting and compelling.”
Today, Steele is the leader in third-party lifecycle management and due diligence. Steele serves large multinational companies through the unique combination of third-party management automation software and unparalleled due diligence services.
Current Compliance Wave CEO, Joel Rogers, and Co-founder, Jay Sullivan, will remain actively involved in the success of Steele and Compliance Wave, as will their teams. Rogers will take on the role of Managing Director, Training Solutions, while Sullivan will continue to lead the creative content design process as Steele’s Chief Creative Officer, Training Solutions.
“We are excited to broaden the reach of our learning content and to be joining the Steele family,” says Rogers. “We have a great deal of passion in bringing meaningful learning content to the compliance industry and this will be a great way to expand our reach and continue to innovate.”
Goodwin Procter LLP and K&L Gates LLP served as legal advisors to Steele and Compliance Wave, respectively, while Corporate Fuel served as the sole and exclusive advisor to Compliance Wave in connection with the transaction. Steele is a portfolio company of Bregal Sagemount, a growth-focused private capital firm based in New York. Terms of the transaction were not disclosed.
