Houlihan Lokey Advises KnowFully Learning Group

Houlihan Lokey is pleased to announce that KnowFully Learning Group, a portfolio company of NexPhase Capital, has sold Surgent and its family of accounting and finance brands to UWorld. The transaction was announced on April 30, 2026. Financial terms of the transaction were not disclosed.

Founded in 1985, Surgent has established itself as a leading provider of accounting and finance professional education, delivering high-quality continuing professional education (CPE) and exam preparation. Surgent offers an extensive library of CPE courses designed to keep accounting and finance professionals compliant, knowledgeable, and valuable to their companies and clients. Surgent also provides exam review preparation for a number of designations, including Enrolled Agent (EA), Certified Internal Auditor (CIA), and Certified Information Systems Auditor (CISA). Additionally, Surgent’s Income Tax School offers IRS-approved courses for tax specialists of all levels.

UWorld is a global leader in comprehensive academic and professional education. Since 2001, the company has helped more than 5 million high school, undergraduate, graduate, and professional students prepare for high-stakes accounting, college admissions, finance, legal, medical, nursing, and pharmacy exams and achieve their academic and career goals. The deal bolsters UWorld Accounting and UWorld Finance’s current Certified Public Accountant (CPA), Certified Management Accountant (CMA), and Chartered Financial Analyst (CFA) exam review courses. UWorld will continue to operate Surgent’s products and services as usual, with no disruption to current offerings, partnerships, or customer experience.

“We take great pride in UWorld Accounting’s comprehensive review courses that guide candidates through high-stakes CPA, CMA, and CFA exams,” said Chandra S. Pemmasani, M.D., founder and CEO of UWorld. “With Surgent’s strong continuing-education business, we can now help students and professionals pass their certification tests with confidence and stay current with evolving regulations and industry trends so they are successful throughout their careers.”

“Surgent has long set the pace with first-to-market, industry-leading CPE courses designed to keep professionals ahead of changing regulations and real-world demands,” said Liz Kolar, Executive Vice President of Surgent Accounting & Financial Education. “Now, as part of UWorld, we have a world-class solution that redefines how accounting and finance professionals learn, grow, and succeed in their careers.”

Houlihan Lokey served as the lead financial advisor to KnowFully Learning Group. This transaction marks Houlihan Lokey’s third professional learning transaction this year, underscoring the firm’s continued leadership in the education sector, as well as its deep expertise advising on strategic carve-out transactions.

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