Londonderry: US investor buys majority share in Learning Pool

Learning Pool employs about 260 people across the UK and US

A US investor has bought a majority share in Learning Pool, the Londonderry-based online training company.

Marlin Equity Partners has bought out Carlyle Cardinal Ireland (CCI) which invested in the company in 2016.

Marlin will make a new investment which will help the firm add a further 100 jobs.

Financial terms have not been disclosed but it is understood the business is now valued at more than £150m.

Learning Pool management have retained their shares and will reinvest in the business.

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The company provides online training courses for a range of major businesses and public sector organisations.

It was founded in 2006 and has grown rapidly since the CCI investment, growing its turnover fourfold.

It employs about 260 people across the UK and United States.

Learning Pool Chief Executive Paul McElvaney said growth over the last five years had been "phenomenal" and he was grateful for CCI's help and encouragement.

CCI invested a reported £20m in the business and will likely have made a good return on that.

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John Dolan, managing director at the Cardinal Capital Group, said: "Learning Pool has been a great growth story for CCI."

Mr McElvaney said Marlin is "the right partner to help us continue our momentum and grow the Learning Pool brand globally".

Marlin is a California-based private equity firm with a focus on software and technology investments.

It recently raised €675m to target investments in middle-market European companies.

Jan-Olivier Fillols, managing director at Marlin's London office, said Learning Pool is "extremely well-positioned to capitalize on a highly attractive market opportunity".