Philadelphia, PA – Inverness Graham, a private investment firm based in suburban Philadelphia, announced today the acquisition of Kalkomey Enterprises, Inc. (“Kalkomey”), as well as its first add-on, Outdoor Roadmap LLC. Kalkomey, which closed in December, is the first investment out of Inverness Graham III, a $283 million fund that was raised in 2015. Founded in 1995 and headquartered in Dallas, Texas, Kalkomey is a leader in online recreational safety education for state required certifications. Using a web a based delivery model, the Company delivers educational content and tests through its proprietary e-Learning platform. In addition, Kalkomey offers value-added SaaS services for states to manage certification records, in-person educational testing elements, and the back-end reporting necessary to receive federal government reimbursement for their education spending. Outdoor Roadmap, which was acquired in April 2016, provides a complementary offering in the online hunter education market and allows the Company to scale and broaden its offering to provide a more complete software solution to its customers. Inverness Graham was supported by e‐Learning industry veteran, Tom O’Keefe, who has joined the company’s board.
“Inverness Graham found both Kalkomey and Outdoor Roadmap through a proactive search targeting the e-Learning market. As traditional educational certifications shift from classroom-based instruction and printed content to web-based digital content and testing, we saw Kalkomey as an opportunity to acquire a market leading provider in an attractive niche segment that is benefiting from that online conversion and Outdoor Roadmap as a highly complementary product offering,” stated Michael Morrissey, Managing Principal of Inverness Graham. “The combined company has deep domain expertise and is a trusted partner of state agencies for required certifications in boating and hunting. These relationships provide organic growth opportunities to leverage their technology infrastructure and content publishing capabilities in new verticals as an educational and certifications platform.”
Though terms were not disclosed, Twin Brook Capital provided debt financing for these transactions. Paul Hastings LLP served as counsel to Inverness Graham.
About Inverness Graham Investments:
Headquartered in Newtown Square, PA, Inverness Graham is an operationally focused private investment firm with over $500 million of assets under management. Inverness Graham acquires high growth, innovative manufacturing and services companies. Our approach is as unique as our heritage. Founded by senior executives of the Graham Group, a family owned multi-national industrial concern, we bring unparalleled resources developed over a 50 year operating history to support our portfolio companies. Inverness Graham partners with businesses to provide the financial and operational support necessary to accelerate growth while enabling owners to achieve their key liquidity objectives.