EBIT ASSOCIATES ADVISED
PROCE, INC. ON ITS SALE TO
CLINICAL EDUCATION ALLIANCE

For IMMEDIATE RELEASE

CHICAGO – August 20, 2020 – EBIT Associates, a leading Illinois-registered, lower middle-market investment bank with several accredited association member firms, announced today that it advised ProCE on its sale to Clinical Education Alliance (CEA) (ClinicalEducationAlliance.com), for an undisclosed amount.

Headquartered in Bartlett, Illinois, ProCE, Inc. (www.proce.com) is recognized as a leading provider of nationally recognized continuing education for pharmacists and pharmacy technicians. ProCE develops, delivers, and evaluates a broad range of accredited, cutting-edge CME with a focus on pharmacist training and education.

Headquartered in Reston, CEA represents a growing alliance of CME/CE provider and services organizations that together are a global leader in the development of innovative enduring, virtual, and live medical education. Integrating personalization and moderated social media, CEA provides medical and healthcare education and information for the entire healthcare team with the goal of improving patient outcomes. The leadership of CEA has been a pioneer in the creation of continuing education and decision support resources for healthcare professionals both in the United States and around the globe for more than two decades.

“We are pleased that CEA will take our company to the next level,” said Richard Lewis, President and CEO of ProCE, Inc.

Richard Lewis added, “We were impressed by the work that EBIT Associates performed on our behalf.  They ran an excellent controlled auction process while maintaining the highest standards throughout.  From a process and valuation perspective, the firm’s expertise, guidance and support served our goals especially well.”

Alan Minks, managing Director of EBIT Associates, added, “It was a pleasure working with Richard Lewis and the ProCE management team in finding a buyer that is a good fit with their culture where they will realize immediate synergies.”

About EBIT Associates

EBIT Associates, a leading Illinois-registered, lower middle-market investment bank headquartered in Chicago, Illinois with offices in Arizona, Iowa, New York, Texas, Wisconsin, China and India.  Founded in 1999, EBIT Associates provides financial advisory services to lower middle market companies throughout the world, supporting client needs principally in the areas of merger and acquisitions advisory, valuations, financial restructurings, and capital.  EBIT Associates is also members of several associations, exclusive global organizations of leading merger and acquisition advisory firms.  More information is available at www.ebitassociates.com

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Media Inquiries:

Richard Cushing, Business Director EBIT (847)-566-0500 X 251, rcushing@ebitassociates.com

For Transaction Related Inquiries:

Todd Cushing, Principal EBIT (847)-566-0500 X 201, tcushing@ebitassociates.com

Ted Humphrey, Growth Consultant EBIT 847-566-0500 X 253, thumphrey@ebitassociates.com

Paul Klinge, Managing Director EBIT (847)-566-0500 X 256, pklinge@ebitassociates.com

Scott Miller, Partner EBIT (847)-566-0500 X 250, smiller@ebitassociates.com

Alan Minks, Managing Director EBIT (847)566-0500 X 258, aminks@ebitassociates.com

Zeeshan Salehjee, Associate Director EBIT (847)-566-0500 X 252, zsalehee@ebitassociates.com

Monty Walker Tax/Exit Expert Director (847-566-0500 X 257, mwalker@ebitassociates.com

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