The Riverside Co. has announced the acquisition of Life Science Training Institute (LSTI) of Horsham Township, Pa., a provider of training courses for the pharmaceutical, biotech and medical device industries, as an add-on to its Red Nucleus Enterprises LLC platform.
Terms of the deal, the second tuck-in for Red Nucleus since being acquired in March, were not disclosed. That other add-on is Pyxa Systems, acquired in April.
Red Nucleus (RN), a life sciences education platform based in Yardley, Pa., will benefit from LSTI’s offerings, which include a wide range of courses on compliance topics covering the life cycle of drug development.
“LSTI, with an online subscription library of over 200 courses, will become part of RN’s rapidly growing R&D business, delivering unrivaled capabilities in a broad array of services, including compliance with global and regional health authority requirements throughout the drug lifecycle,” according to Riverside.
The investment further extends the capabilities of RN’s learning platform from R&D through its commercial business that designs and develops training content that includes e-learning modules, mobile apps, virtual training, workshops, games and printed materials primarily focused on the commercialization of pharmaceuticals, the firm added.
“Because of the environment we’re living in, it’s a critical time for e-learning and conducting business virtually,” said Riverside principal Jason Fulton in a statement. “We’re eager to invest in the team, systems and infrastructure to create a best-in-class offering to support LSTI’s customers.”
“There is strong overlap with LSTI’s content and training solutions and our heritage as a content and training business,” said Red Nucleus CEO Ian Kelly in a statement. “Red Nucleus’s goal is to be the trusted life sciences partner across our clients’ product lifecycle, and we are thrilled to now offer our R&D clients additional learning solutions focused on increasing compliance with Global and Regional Health Authority requirements.”
Riverside is a global private equity firm co-headquartered in Cleveland. It invests in growing businesses — typically targeting the lower middle market nowadays — valued at up to $400 million.