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Corporate Education Group Announces Management Buyout

CHELMSFORD, MA — January 14, 2019 — The senior management team of Corporate Education Group and a group of investors are pleased to announce that a new company they have formed, CEG Operating Company, LLC, has acquired the Corporate Education Group division of Vatterott Educational Centers, Inc. The new company will continue to be led by David Mansfield, President; Susan Palermo, Senior Vice President; and the entire Corporate Education Group team; and it will continue to do business under the Corporate Education Group (CEG) name.

Corporate Education Group will continue to provide the same exceptional level of service that its clients have come to expect and value. The company will offer training, consulting, and advisory services using the same employees, facilitators, instructors, coaches, consultants, and curriculum content, together with the account management and delivery services that customers have enjoyed for many years. CEG will also continue to maintain all existing strategic partnerships, such as those with Duke, PMI, IIBA, APMG, and BRM Institute.

David Mansfield will be president of the operating company. He also invested in and will be CEO and director of CEG Holding, parent of CEG. He commented, “This was a historic day for Corporate Education Group, and I’m thrilled to announce this new partnership with our investors. I have known Chris Needham, who organized and led the investor group, as a friend and fellow trustee on a non-profit board for over 19 years. With the additional knowledge and expertise the directors and other investors bring to the company, we achieve a major milestone in becoming even more focused and better prepared to serve and meet our customers’ needs, including having access to the capital and the strategic and financial expertise we will need to grow.” Susan Palermo, Senior Vice President of CEG, said, “This is the best possible outcome for our employees, trainers, and our clients. We are very excited as we are now positioned to enter a new phase of growth and success.”

“In this management-led buyout, we raised the necessary capital because of the quality of the management team, the employees, the client base, and the deep relationships with instructors, partners, and suppliers,” said Chris Needham, Executive Chairperson of CEG Holdings. Mr. Needham has over 25 years of experience in private equity investment in, and specialized lending to, services industries like corporate education and training. “Going forward, we will support management to build on their core strengths, grow team expertise, and support all of the company’s customers in developing talent and optimizing organizational success. CEG has outstanding attributes as a high-quality service business.”

The financial terms of the transaction were not disclosed.

About CEG

Corporate Education Group (CEG) is a premier provider of talent development solutions with headquarters just outside of Boston, Massachusetts. Since 1987, CEG has engaged with clients to unlock business value by optimizing employee and organizational performance. Our more than 30 years of experience rooted in collaborative partnerships has taught us that there is no one-size-fits-all solution when it comes to optimizing performance. From assessments to advisory consulting, program design, training delivery, and measurement, we identify the right solution for each client. Our practice focus is in Project Management, Business Analysis, Agile and Scrum, Management and Leadership, and Business Process Management, and our solutions are delivered onsite, in the classroom, virtually, on demand, and in blended settings. For more information visit: www.corpedgroup.com.

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