Leeds Equity Partners portfolio company CeriFi has acquired CPMI Professional Development, a provider of insurance pre-licensing and continuing education courses.
Founded in 1998 and based in Metamora, Illinois, CPMI helps insurance agents and agent candidates pass property, casualty, life, and health insurance licensure exams, and meet state continuing education requirements, across the US.
CPMI is the eighth acquisition for Alpharetta, Georgia-based CeriFi, which provides financial education, training and certification to the financial services industry. Terms of the transaction were undisclosed.
Matthew Given, chief executive of CeriFi, said: “CPMI has built an impressive portfolio of insurance pre-licensing and continuing education courses that enable insurance agents to pass their exams, excel professionally and maintain their licensing requirements, We are excited to leverage their deep insurance content and domain expertise in combination with our world-class learning platform and vast financial education offerings to further address the needs of our financial services customers.”
Paul Mensinger, president of CPMI, added: “CeriFi’s significant strategic and financial support and extensive customer relationships will enable us to further expand our industry leading pre-licensing and continuing education solutions more broadly across the industry.”
Eric Geveda, managing director of Leeds Equity Partners, commented: “CPMI’s insurance training products deliver best-in-class learning outcomes in the insurance industry and align perfectly with CeriFi’s mission of holistically serving the needs of professionals across the financial services industry. We look forward to continuing to execute on our growth strategy, both organically and through add-on investments.”
Polsinelli was legal counsel to Leeds Equity Partners, and Dorsey & Whitney was legal counsel to CPMI.
Date published: 8 April 2021