Anaheim, CA – Spidell Publishing, Inc. (“Spidell” or the “Company”), has been acquired by CeriFi, LLC (“CeriFi”), a portfolio company of Leeds Equity Partners (“Leeds”). Diamond Capital Advisors (“Diamond Capital”) served as the exclusive financial advisor to Spidell.
Based in Anaheim, California, Spidell is a leading provider of tax continuing education seminars, webinars and subscription-based tax publications. Its services include continuing professional education (“CPE”) courses and tax research publications. The Company offers its CPE courses in seminar, webinar and self-study format. Its products and services are used by over 23,000 tax professionals including CPAs, EAs, attorneys, CFPs, and tax preparers.
Lynn Freer, President of Spidell, said, “CeriFi is a trusted partner to financial services firms and professionals, and has a reputation for delivering quality learning experiences that drive strong outcomes. I am excited to combine Spidell’s expert team with its deep commitment to tax professionals and CeriFi’s broad team and resources.”
I received 30 percent over my hoped-for price for my research and education business thanks to David Herman and the team at Diamond Capital Advisors. The deal closed in eight months from the date I signed and I walked away a retired lady. It was a rough ride at times, but David and Kahlil were there 24/7 to coach me through, explain the situation, and sometimes calm my fears. I had the best experience I could have imagined and would recommend Diamond Capital to anyone wanting to sell their business.
Managing Director, Kahlil Reid said, “We are thrilled to have worked with Spidell, CeriFi, and Leeds to bring these two industry leaders together. This is a great example of how Diamond Capital is able to leverage its M&A expertise to execute a transaction between two strategically complementary companies and create significant value for all involved.”
Diamond Capital Founder and Managing Partner David Herman added, “We are excited to have successfully advised Lynn on this transaction and wish her and the CeriFi team the best for the future.”
Spidell has provided premier federal and state tax research and education solutions since its founding in 1974. Spidell offers its continuing education courses in seminar, webinar and self-study formats. Along with a unique online tax research product, Spidell provides online and print tax research newsletters and books to help professionals maintain licensing requirements and deliver high-quality tax services. Spidell's products and services have been used by over 23,000 tax professionals including Certified Public Accountants, Enrolled Agents, attorneys, CERTIFIED FINANCIAL PLANNERS™ and tax preparers.
CeriFi, formed in 2017, is a diversified education, training and certification provider serving professionals across the financial services market. To-date, CeriFi has acquired ten highly complementary companies, including Dalton Education, Money Education, Keir Financial Education, Pass Perfect, the CFP assets of LoneStar Financial Education, the Association of Certified Financial Crime Specialists, Bionic Turtle, CPMI, Fast Forward Academy and Spidell Publishing.
About Leeds Equity Partners
Leeds Equity Partners is a New York-based private equity firm dedicated exclusively to partnering with management teams in the education, training and information services industries (the "Knowledge Industries"). The firm was founded in 1993 and has managed over $4 billion of capital across a broad spectrum of companies within the Knowledge Industries. Leeds Equity seeks to leverage its sector-focused expertise and market insights to create long-term value for its partner companies.
About Diamond Capital Advisors
Diamond Capital Advisors is an independent investment banking firm that provides M&A, capital raising, corporate valuations and related strategic advisory services to lower middle-market companies in North America. The firm’s transaction experience covers a broad range of industries, end markets and business models.
Please contact Kahlil Reid, Managing Director, at 323.632.0427, or David Herman, Managing Partner, at 310.432.8585 for more information regarding this transaction.