Harvard-born buyout model arrives in Australia: SMEVentures acquires ACE Training

Victoria, Australia: SMEVentures (https://www.smeventures.com/) has acquired ACE Training (https://www.aceassessment.com.au/), effective August 6, 2021.

“ACE has an outstanding 20-year track record as a premium training provider in Victoria,” says Rob Gaunt (https://www.linkedin.com/in/rob-gaunt/), Director at SMEVentures and incoming CEO of ACE Training. “We see great potential to build on that foundation in the coming years.”

“I knew Rob was the best person to continue the ACE brand,” says Nicky Thomas, founder of ACE Training. “It was very important to us to have the right person buy our company.”

The deal marks Australia’s first-ever acquisition via a search fund, a niche buyout model developed at Harvard and Stanford. (https://www.gsb.stanford.edu/faculty-research/centers-initiatives/ces/research/search-funds)

“We’re thrilled to bring the search fund model to Australia,” says Jake Nicholson (https://www.linkedin.com/in/jakenicholson/), Director at SMEVentures. “We saw a very clear opportunity in this market, and this deal is a good example of what search funds can accomplish in Australia.”

About ACE Training: Established in 2001, ACE Training provides nationally recognized training, assessments, and licenses to the oil & gas, mining, agriculture, power, water, paper, transport, manufacturing, and construction industries. Employing over 50 people across four campuses in regional Victoria, ACE has made a name for itself as one of the state\’s premier training providers.