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.
###