RPCK advised on the acquisition of Spire Education, a talent development company based in Kenya by Shortlist, a start-up based out of India with a technology driven recruitment platform with a presence in India, East Africa and United States. In this transaction, RPCK advised Blue Haven Initiative, a lender to Spire Education and an investor in the combined entity.
Spire Education designs and delivers talent development programs that enable employees to cultivate the skills and attitudes they need for success in their jobs. Shortlist helps growing enterprises hire for early and mid-career roles based on demonstrated potential and skill instead of pedigree. The combined entity will have increased capacity to support employers through the entire process of recruitment, onboarding, and on-the-job training, especially in the East African region.
In the impact space, this is an example of a not often seen mission driven acquisition of a start-up by another start-up with a complementary business model to generate synergies in this space.
Lauren Cochran, Managing Director at Blue Haven Initiative, stated that “Over many years investing in and advising enterprises in East Africa, we’ve found that companies that prioritize best-in-class human capital practices have a significant competitive edge. We are excited to watch the impact that the united team will have on high-potential organizations and individuals across the region.”
The RPCK team was led by Chintan Panchal working with Adhiti Gupta. The team also included Heather Eisenlord, Simone Yatrakis and Joshua Teitelbaum.
More coverage on the deal can be found here: