New York, NY and Radnor, PA – December 1, 2020 – KnowFully Learning Group (“KnowFully” or the “Company”), a leading provider of continuing professional education, exam preparation courses, and digital learning solutions to the accounting, finance, and healthcare sectors, today announced the acquisition of The Income Tax School, Inc. (“ITS”), a top-rated provider of training programs, continuing education courses, and certificate programs for individuals seeking to start or accelerate careers in tax preparation.
Founded in 1985, KnowFully is committed to supporting its customers as they prepare for exams, take training courses, and pursue lifelong continuing professional education (“CPE”). The Company is comprised of a family of brands including Surgent, a leading provider of exam preparation and continuing education (“CE”) solutions serving accounting, tax, and finance professionals. The Company is backed by NexPhase Capital, LP (“NexPhase”), a thematic and operationally focused private equity firm.
Since its founding in 1989, ITS has established itself as one of the most effective, efficient, and affordable educational programs for individuals with no prior tax or accounting experience as they seek employment in the industry. ITS also offers turn-key tax practice management guides that help individuals start and grow a successful tax business from the ground up. Through these programs, ITS empowers business owners to build a professional tax business using best practices without buying into an expensive tax franchise that may ultimately limit innovation and expansion. ITS serves thousands of students annually through its educational programs, which are developed by practicing tax professionals, including many Enrolled Agents (EAs). ITS has previously partnered with Surgent as a reseller of the Surgent EA Review course, which prepares candidates for the rigorous Special Enrollment Exam that all prospective EAs must pass.
Through this strategic acquisition, ITS will operate under the name “Surgent Income Tax School.” This transaction is intended to further enhance Surgent’s position as a leading provider of professional education in the finance sector while providing its tax-focused customers with additional educational opportunities. With a shared commitment to offering leading educational experiences and providing excellent customer service, KnowFully and ITS will work together to further develop educational resources that address the needs of tax professionals.
“ITS is a strong complement to Surgent’s expansive portfolio of educational solutions for accounting, tax, and finance professionals,” said Eric Cantor, Chief Executive Officer of KnowFully. “They’ve developed a stellar reputation within their target market and we are confident that together we will be able to build upon ITS’ strong foundation to expand and diversify our learning solutions for tax professionals.”
Chuck McCabe, Founder of Income Tax School, remarked, “As someone who has been working to educate tax professionals for more than 40 years, I’m extremely pleased to be able to transition the leadership of The Income Tax School to the team at Surgent. Our missions are closely aligned and I look forward to this exciting next chapter for ITS.”