- Acquisition of Contractor Exam Preps of Pittsboro, North Carolina, would give One Exam Prep access to new markets, customers
- One Exam Prep is already on pace to have 70% gain in year-over-year revenues
- Chris Barrow, president of Contractor Exam Preps, would join One Exam Prep division as a master instructor
ProBility Media Corp. (OTCQB: PBYA), through its One Exam Prep division, has entered into an asset purchase agreement (http://dtn.fm/S5fHx) with Contractor Exam Preps of Pittsboro, North Carolina. The acquisition would expand One Exam Prep’s markets and customers.
ProBility Media is an EdTech company which offers the skilled trades high quality training courses, eLearning opportunities and materials. The firm is seeking to build an international brand for educating, training and compliance for the skilled trades. It serves small businesses, as well as enterprise-level corporations.
In a news release, Noah Davis, president and COO of ProBility, said, “With sales on pace to exceed a 70% increase year-over-year, combined with the anticipated addition of Contractor Exam Preps, One Exam Prep is poised to enter new markets and offer more to its current and new customers than ever before.”
Chris Barrow, president of 20-year-old Contractor Exam Preps, would join One Exam Prep as a master instructor, per the purchase agreement. “We are very much looking forward to integrating Barrow’s expertise and skill sets into One Exam Prep,” said Rob Estell, founder and president of One Exam Prep. “We currently service 22 states and offer hundreds of high-quality online courses, private e-tutoring, application processing, daily physical classes, and all of the training materials, at very competitive pricing.”
Employer-based formal training in the U.S. is a $177 billion annual market, according to a ProBility presentation within an 8K SEC filing (http://dtn.fm/nO34q). The Trump administration’s infrastructure plans call for an increase in apprenticeships to five million from 40,000 today. Some 60% of the jobs created by the $1 trillion plan will require less than six months of training.
ProBility offers educational and compliance materials for 60 skilled trades in 15 categories. The diverse list of subjects includes electrical, solar, glass glazing, plumbing, air conditioning, irrigation, pollutant storage, and others. It is targeting annual organic revenue growth of 25-30% and 20-25% additional sales through acquisitions, the presentation shows. Further, it is targeting a 30% EBITDA margin.
For more information, visit the company’s website at www.ProBilityMedia.com
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