TPC Named IVCA Private Equity Portfolio Company of the Year
Chicago, IL
TPC has been recognized as the 2022 Private Equity Portfolio Company of the Year by the Illinois Venture Capital Association (“IVCA”). TPC is a provider of industrial skills and workplace safety training, performance management, and compliance software solutions for environmental, health, & safety (EHS). TPC’s solutions enable organizations of all sizes – SMBs to Fortune 1000 – to upskill their workforce and increase workplace safety, while reducing operational and financial risk in highly-regulated end markets.
Frontenac acquired Buffalo Grove-based TPC in March 2018 as part of a thesis-driven, CEO1ST pursuit with veteran training & education executive, Ty Field. Frontenac ultimately exited the investment in December 2021 through a sale to American Safety Council.
Under Frontenac’s ownership and with the leadership of the TPC management team and Executive Chairman Ty Field, the Company set out to expand its customer base, channels, technology platform, and end markets through organic growth, strategic investments and the acquisition and integration of five M&A targets. TPC also expanded its digital offerings through enterprise sales team investments, account-based marketing initiatives, and substantial technology enhancements, including a proprietary Learning Management System. The resulting business mix shifted from less than 45% digital delivery to more than 85% digital delivery during Frontenac’s hold period.
Michael Langdon, Managing Director of Frontenac commented, “On behalf of the Frontenac team, my colleague Markie Masri who served on the TPC board alongside me, and most importantly the entire team at TPC, we are honored by the IVCA’s recognition and delighted with what we were able to build together at TPC.”
Derek Dunaway, Former Chief Executive Officer of TPC, commented, “I am proud of the growth in scale, capabilities, and talent that TPC achieved during Frontenac’s ownership. Frontenac and its CEO1ST Partner, Ty Field, served as collaborative partners and trusted advisors to TPC. They worked closely with us to provide strategic perspective, support continued pursuit of organic and acquisition growth initiatives, and make proactive investments in digital transformation and people.”
Accepting the award on behalf of TPC is former Chairman, Ty Field, who commented, “TPC accomplished everything we set out to achieve under our ownership and more. We are proud of the work we did and honored to be recognized in such a big way by the IVCA.”
About TPC
TPC is a provider of industrial skills and workplace safety training, performance management, and EHS compliance software solutions to organizations of all sizes, ranging from Fortune 1000 companies to small businesses and workers that span multiple disciplines from industrial to food service. The company offers one of the industry’s broadest libraries of technical and safety training content, as well as software solutions to manage workforce operations. TPC helps companies maximize the full potential of their workforce, dramatically improve productivity, reduce downtime and keep teams safe. For more information, please visit www.tpctraining.com.
About Frontenac
Frontenac is a Chicago-based private equity firm. The firm focuses on investing in lower middle market buyout transactions in the consumer, industrial, and services industries. Frontenac works in partnership with established operating leaders, through an executive-centric approach called CEO1ST, which seeks to identify, acquire, and build market-leading companies through transformational acquisitions and operational excellence. Over the last 50+ years, Frontenac has built a leading franchise working with over 300 owners of mid-sized businesses as they address complex transition issues of liquidity, management enhancement, and growth planning. For more information, please visit www.frontenac.com.
About IVCA
The Illinois Venture Capital Association advocates for a strong Illinois business climate for private investors in private companies by promoting a pro-growth public policy platform; facilitating member networking; introducing underrepresented groups to the business of private company investing and collaborating with organizations of mutual interest. In addition, IVCA works with entrepreneurial organizations in the Midwest to encourage a strong cycle of innovation and business creation leading to superior investment opportunities.
Disclaimer
The IVCA Deal of the Year Award is an award designed by the Illinois Venture Capital Association that recognizes a private equity-backed company based on the following criteria: company is headquartered in Illinois; is or was private equity backed; had a liquidity event in 2021 or 2022; and the exit was successful for investors. Frontenac is not aware of the number of advisers also surveyed for the award. Frontenac did not pay a fee to be considered for this award. This award is not to be construed as indicative of Frontenac’s future performance. Reference to an award is only one piece of information relevant to an evaluation of an investment adviser such as Frontenac. Frontenac received the award in December 2022.