has been acquired by

Capstone Headwaters Advises Themis Bar Review on its Sale to UWorld, LLC

August 2020

Capstone Headwaters, a leading middle market investment banking firm, advised Themis Bar Review (“Themis”), a professional training company, on its sale to UWorld, LLC (“UWorld”).  Terms of the deal were not disclosed.   

Themis Bar Review is the first fully online bar review and the only bar prep company to publish its students’ bar exam pass rates. Based on the most current research on memory retention and comprehension, Themis’ study materials are designed specifically to optimize retention and exam performance. Themis has innovative tools such as the Adaptive Calendar and Study Pacer that use artificial intelligence to adjust daily assignments, and the course lectures are segmented into 15-20 minute chapters to combat mental fatigue. Themis offers full bar review preparation in 46 jurisdictions.

“Themis revolutionized bar prep by offering the first fully online bar review course in the country by using a unique combination of on-demand lectures segmented into 15-20 minute chapters, assessment questions, and final review outlines—all designed by bar review experts to improve retention and combat mental fatigue for students,” said Rick Duffy, CEO, and founder of Themis Bar Review. “Under the UWorld umbrella, we will maintain our unwavering commitment to developing only the highest-quality content and offering it to as many law students as possible.”

Rick Duffy also said, “From the top to the bottom of their organization, Capstone has an experienced, well trained professional team that handled all aspects of our successful sale.”

“It was a pleasure to have had the opportunity to represent Themis during this process,” Jacob Voorhees, Managing Director at Capstone, commented. “Ultimately, we were able to complete a transaction that will give both parties access to additional resources and bolstered positioning in the online exam prep industry. Themis’s revolutionary bar exam prep services, based on AI and memory research, are a complementary addition to UWorld’s expansive offerings. We are excited to see their continued growth in the space.”

“Themis Bar Review appealed to UWorld because we share the same commitment to having a momentous impact on students’ exam outcomes,” said Chandra S. Pemmasani, M.D., UWorld’s founder and CEO. “Themis is a recognized and trusted brand among law students, and we will continue to earn that trust by helping students achieve their dreams.”

ABOUT UWORLD

UWorld is the worldwide leader in online learning to prepare for high-stakes exams. Since 2003, UWorld has helped millions of undergraduate, graduate, and professional students prepare for their exams. At the core of UWorld's mission is an obsession with quality, so that students receive only the best in learning resources. Whether students are preparing for the ACT®, SAT®, CFA, CPA, Bar Exam, MCAT®, NCLEX®, PANCE/PANRE, NAPLEX®, MPJE®, CPJE, USMLE®, ABIM®, or ABFM®, UWorld ensures success by using active learning methods. With challenging practice questions that mirror the real tests and unrivaled explanations, students can efficiently and effectively prepare for every topic on their exams.

“From the top to the bottom of their organization, Capstone has an experienced, well trained professional team that handled all aspects of our successful sale.”
Rick Duffy
CEO & Founder
Themis Bar Review