Providence Equity Partners has acquired five corporate training businesses from Informa, an academic publishing and business information company, for $180 million consisting of $100 million in cash, $65 million in seller financing, and up to an additional $15 million in earn-out payments based on 2013 revenues. This transaction is expected to close in the third quarter of 2013.
The five corporate training businesses include Achieve Global, a provider of customer service training based in Tampa (www.achieveglobal.com); ESI International, a provider of project management training based in Arlington, VA (www.esi-intl.com); Forum, a provider of leadership and sales performance training based in Boston (www.forum.com); Huthwaite, a provider of sales and marketing performance training based in Arlington, VA (www.huthwaite.com); and Omega, a provider of lending and loan portfolio management training based in Arlington, VA (www.omega-performance.com).
Providence Equity Partners invests in the media, entertainment, communications and information industries and has approximately $28 billion of capital under management. The firm was founded in 1989 and is based in Providence, RI with additional offices in New York, Los Angeles, London, Hong Kong, and New Delhi (www.provequity.com).
Informa is a multinational publishing and conference company with offices in more than 43 countries and more than 8,500 employees. The company is headquartered in Zug, Switzerland (www.informa.com).
Moelis & Company is acting as Informa’s financial advisor on this transaction.
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-19-13