LRN Embarks on New Chapter With Leeds Equity Partnership
LRN will celebrate its 25th anniversary in 2019, but took one last action in 2018 that will propel the company forward into its next 25 years.
The company on Wednesday announced a strategic partnership with Leeds Equity Partners, LLC. The agreement includes an investment by Leeds Equity, which specializes exclusively in the knowledge industries and, like LRN, has also been in business for 25 years.
The convergence will bring together two companies that share the objective of helping companies elevate behavior to reduce risks and to create sustainable competitive advantage.
This is a time of intensifying focus and scrutiny on corporate and individual conduct — where ‘do it right’ corporate cultures are an urgent imperative and command unprecedented resources from management and boards. “Society continues to set higher and higher standards for companies and their people, and therefore, now is the time for LRN, as the recognized leader in the industry, to make a transformational move," said Dov Seidman, LRN's founder and chairman.
"Backed by Leeds Equity’s expertise and resources, we will grow through even greater investments in technology and further innovations in our products and services, such as mobile delivery, adaptive learning and data analytics," said Seidman, who will remain as chairman. That will enable LRN "to better support our client-partners in educating and engaging their employees, assessing workplace conduct, guiding the right kind of principled and profitable behavior, and demonstrating the ROI of effective ethics and compliance initiatives.”
The partnership and planned investments in organic growth and mergers and acquisitions will seek to support LRN’s objective of continuing to be the most valued and valuable company in the ethics and compliance sector, said Jeffrey T. Leeds, managing partner of Leeds Equity.
"We are privileged to have been afforded the opportunity to partner with Dov and his team and to be a custodian of this remarkable and unique enterprise," said Leeds Equity. "We admire how LRN has steadfastly acted on its belief, now widely acknowledged by business leaders, that behavior and culture not only matter but are often the difference between success and failure."
The partnership brings together two companies committed to innovation in education and training, said Tim Shriver, chairman of Leeds Equity's Advisory Board. "This is the kind of work Leeds Equity was formed to do and the kind of company Leeds Equity was founded to partner with and support."
Since its inception in 1994, LRN has been a pioneer in the ethics and compliance space, and the partnership with Leeds Equity will allow the company to remain the leader in helping and inspiring people to do the right thing, said Seidman.
"Most significantly, LRN's over 250 uniquely talented colleagues, deeply committed to our mission of inspiring principled performance, are truly what makes this partnership with Leeds Equity possible," said Seidman.