MidOcean Partners Announces Acquisition Of Global Knowledge Training
Leading Provider of IT And Business Skills Training To Accelerate Growth Strategy
NEW YORK, October 25, 2011 - MidOcean Partners ("MidOcean"), a leading private equity firm, announced today that it has acquired Global Knowledge, a worldwide leader in IT and business skills training.
Based in Cary, NC, Global Knowledge was founded in 1995 and today employs more than 1,300 people worldwide. The company provides training solutions to enterprise and government organizations and delivers courses via its global training centers, private facilities, and the Internet. More than 250,000 students receive instruction annually.
Brian Branson, President and Chief Executive Officer of Global Knowledge who will continue in those positions, said, "Our new relationship with MidOcean will enable us to accelerate our growth plan and our response to the changing market needs for high quality IT and business skills training. We look forward to working with MidOcean to further develop and deliver innovative training solutions."
Mr. Branson and his senior management team will benefit from the support of Jim Kelly who has been named Global Knowledge's Executive Chairman. Mr. Kelly is a senior executive who has worked with MidOcean as a management resource to the firm and has extensive experience in the business services and IT areas. He served most recently as President of Global Payments, Inc. In addition MidOcean has named Doug Fox, former Senior Vice President of Marketing at Compaq to serve on the Global Knowledge Board of Directors.
Tyler Zachem, a Managing Director at MidOcean Partners, said, "We are very pleased to partner with the superb management team at Global Knowledge. This investment provides us the opportunity to support this exceptional company, which is well positioned to excel in a fragmented but robust corporate training market. We believe the company has tremendous growth prospects as the need for quality technical training remains a critical component to IT and business professionals at organizations of all sizes."
The transaction was supported by BMO Capital Markets, acting as financial advisor, and Ropes & Gray LLP, acting as legal advisor to the seller. Morrison Cohen LLP acted as legal advisor to MidOcean Partners.
About Global Knowledge
Global Knowledge is the worldwide leader in IT and business skills training, with more than 1,200 courses that span foundational and specialized training and certifications. Its core training is focused on Cisco, Microsoft, Avaya, VMware, Red Hat, business process improvement, and leadership development. Training is offered through multiple delivery methods, ranging from instructor-led to self-paced learning in classrooms or via the Internet, enabling customers to choose when, where, and how they want to receive training programs and learning services. For more information, visit www.globalknowledge.com.
About MidOcean Partners
MidOcean Partners is a premier private equity firm headquartered in New York focused on the middle market. MidOcean is committed to investing in high quality companies with stable market positions and multiple opportunities for growth. Targeted sectors include consumer, media and communications, business and financial services and industrial services. MidOcean utilizes a broad foundation of expertise in its focus industries to create value for its investors and partners. For more information, visit www.midoceanpartners.com.