Wendel: Wendel to Acquire ACAMS, the world’s largest membership organization dedicated to fighting financial crime
24 Januar 2022 - 7:45AM
Wendel: Wendel to Acquire ACAMS, the world’s largest membership
organization dedicated to fighting financial crime
PRESS RELEASE - JANUARY 24, 2022
Wendel to Acquire ACAMS, the world’s largest
membership organization dedicated to fighting financial crime
Wendel (Euronext: MF.FP) announced today that it
has entered into an agreement alongside Colibri Group, a Gridiron
Capital company, to acquire the Financial Services segment of
Adtalem Global Education (NYSE: ATGE). As part of the transaction,
Wendel will acquire the Association of Certified Anti-Money
Laundering Specialists (“ACAMS” or the “Company”), and Colibri will
separately acquire Becker Professional Education and OnCourse
Learning. Scott D. Liles, currently ACAMS President and Managing
Director, will become the Company’s Chief Executive Officer upon
closing of the transaction.
Wendel’s acquisition of ACAMS values the Company
at approximately $5001 million and contemplates an equity
investment from Wendel of approximately $355 million, for a
c. 99% interest in the Company. The transaction is expected to
close in the first half of 2022, subject to customary conditions
and regulatory approval.
ACAMS is the global leader in training and
certifications for anti-money laundering (“AML”) and financial
crime prevention professionals. ACAMS has a large, global
membership base with more than 90,000 members in 175 countries,
including over 50,000 professionals with an ACAMS certification,
the maintenance of which drives annual consumption of ACAMS
continuing education content, including webinars and conferences.
The Company has approximately 275 employees primarily located in
the U.S., London and Hong Kong that serve its global customers.
For the twelve-month period ended 30 September
2021, ACAMS reported revenues of $83m and, according to Wendel’s
usual definition, the estimated unaudited standalone EBITDA would
amount to c.$18 million.2
André François-Poncet, Wendel Group
CEO, and David
Darmon, Wendel’s Deputy CEO
said: “We are enthusiastic about the opportunity
to invest in ACAMS, a global leader in training and certifications
for financial crime prevention. ACAMS is a successful
mission-driven organization aligned with Wendel’s values. As a
provider of services that ultimately reduce the funding of
terrorism and human trafficking (among other nefarious activities),
it fits well with Wendel’s CSR values. The investment represents a
new milestone in our 2021-24 roadmap, and our announced target to
accelerate the redeployment of our capital toward companies with
higher growth rates.”
Adam Reinmann and
Harper Mates of Wendel North America,
added: “We are excited to partner
with the ACAMS team and continue to build upon the momentum the
Company has developed under Adtalem’s ownership. The Company’s
shared mission and trusted partnership with financial crimes
prevention professionals around the world positions it for
continued growth as customers increasingly rely on ACAMS’ support
to address the complex threat and regulatory environment. Wendel’s
shared values and experience with CPI, a similarly global,
mission-driven certification and membership organization, makes us
an ideal partner and adds to our portfolio another market-leading
business with attractive long-term growth prospects. We are
thrilled to be joining Scott and all ACAMS employees as we support
this iconic brand and the Company’s transition to a stand-alone
business.”
Scott Liles,
ACAMS’s CEO,
stated: “We look
forward to partnering with Wendel in this next phase of ACAMS’
history. Wendel’s long-term investment philosophy and shared values
are well suited to support ACAMS’ mission, our people, and our
commitment to our global membership. We are appreciative of the
support and investment Adtalem has provided over the past several
years and look forward to working with Wendel as we transition to a
stand-alone business and seek to further expand our reach and
impact.”
Macquarie Capital served as Wendel’s financial
advisor, and Kirkland & Ellis LLP as its legal advisor in the
acquisition of ACAMS.
About Adtalem
Global Education
Adtalem Global Education (NYSE: ATGE), a leading
workforce solutions provider, partners with organizations in the
healthcare and financial services industries to solve critical
workforce talent needs by expanding access to education,
certifications and upskilling programs at scale. With a dedicated
focus on driving strong outcomes that increase workforce
preparedness, Adtalem empowers a diverse learner population to
achieve their goals and make inspiring contributions to the global
community. Adtalem is the parent organization of ACAMS, American
University of the Caribbean School of Medicine, Becker Professional
Education, Chamberlain University, EduPristine, OnCourse Learning,
Ross University School of Medicine, Ross University School of
Veterinary Medicine and Walden University. Adtalem has more than
10,000 employees, a network of more than 275,000 alumni and serves
over 82,000 members across 200 countries and territories. Adtalem
was named one of America’s Most Responsible Companies 2021 by
Newsweek and one of America’s Best Employers for
Diversity 2021 by Forbes. Follow Adtalem on Twitter
(@adtalemglobal), LinkedIn or visit adtalem.com for more
information.
About Colibri Group
Colibri Group is building the future of
professional education. Today, millions of licensed professionals
start and advance their careers through the company’s online and
in-person learning solutions for licensing, continuing education,
test preparation and professional development. Headquartered in St.
Louis, Missouri, Colibri Group provides a holistic learning
experience for students and professionals to achieve more and
thrive throughout their careers in real estate, financial services,
teacher education, healthcare, valuation and property services,
among other professions. Visit colibrigroup.com for more
information.
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