Rapid Learning Institute Has New Ownership Structure
Philadelphia, PA – July 12 2017
The Rapid Learning Institute (RLI), announces a management buyout of its seed investor. The agreement was signed on June 5, 2017.
RLI, an operating division of Business 21 Publishing, LLC, is now owned 100% by Stephen J. Meyer, co-founder and CEO. Meyer purchased all the shares of Michael P. Mealey, a silent partner who provided seed capital for the business when it launched in 2002.
“We’re all grateful to Mike Mealey,” said Meyer. “He founded Mealey Publications back in the early ‘80s, sold to Lexis Nexis in 2000, and was generous enough to invest in the next generation of entrepreneurs. He showed confidence in our business concept and together we’ve created hundreds of jobs and now serve thousands of customers. It’s been a great partnership and we’re delighted he received a substantial return on his investment.”
RLI was one of the first developers of micro-training content in what is now the fastest growing segment of the online learning market. RLI provides its award-winning “Quick Take” rapid learning® modules to organizations in areas such as Sales, Leadership and Employment Law.
The company is uniquely positioned. Rather than offer a broad library that addresses all the content needs of an organization, it takes a best-of-breed approach, focusing narrowly on soft-skills, providing assessment tools, adaptive learning, and a proven methodology for deploying micro-training successfully.
RLI customers include Gannett Publishing, Bridgestone/Firestone, Valspar Paint, BASF, Blue-Cross/Blue Shield, Mutual of Omaha, Drager USA, Komatsu, Airgas, GEICO and McKesson Corporation.
The company is based in Greater Philadelphia. It is currently reaching out to private equity and venture capital firms to secure investment for growth.