Current
Engagements
Athena: $3.7M Rev/$610k Adj. EBITDA (2024) Niche Mandatory Compliance Training Co.

-
Revenue
$3,700,000
-
Cash Flow
$610,000
-
Location
U.S.
Download NDA
ATHENA is an established training and compliance solution company serving niche industries and end markets. The Company built a robust portfolio of up-to-date curriculum that meets the increasing regulatory demands of various end markets nationwide. With 95%+ customer retention, no customer concentration, CAPEX-light operations, a scalable business model, and a growing market need for compliance solutions, ATHENA is well-positioned for future expansion. 95% of the Company revenue comes from just a handful of U.S. states. This will make ATHENA a strong asset for the future buyer, who will be able to increase its footprint and expand niche end markets. Gross margins vary from 60%+ for in-person training to mid-80 % for online training.
Offering both online and onsite training solutions, ATHENA has created a loyal customer base across multiple niche sectors. Most of ATHENA’s customers still prefer in-person training where ATHENA’s trainers can walk the environment and provide updates to client safety and other compliance manuals.
The current owners seek a financial buyer who can step in and run the Company, or a strategic buyer who will incorporate ATHENA’s capabilities and clients under their umbrella. They expect to transition out within 3-6 months of closing as the team is in place for operating the business.
The sellers invested heavily in the business the past 3-4 years bringing in professional managers to handle key operation areas of the company including: finance, marketing, compliance area 1, compliance area 2, customer experience, LMS management, trainer development and more. The owners believe they can grow another 40-50% with the current infrastructure investments. The Company’s investments in people and professionalization are driving growth. They are coming off a record Q1 and expect to have a banner year in 2025.
Facilities
Business operations are from both leased and remote work environments. The Company HQ handles customer engagements and onboarding.
Market Outlook / Competition
Compliance areas for safety and other niche areas have persistent regulatory changes. Companies like ATHENA effectively implement these changes in real time and their customers know the content is excellent and up-to-date. This positions ATHENA as a strong competitor in the niche safety and compliance arena.