Providence Equity Partners Acquires Miller Heiman
Plans to Accelerate Growth Initiatives and Expand Global Reach of Miller Heiman Sales Force Performance and Sales Effectiveness Expertise
RENO, Nev. and PROVIDENCE, R.I., January 9, 2013-- Miller Heiman today announced that it has been acquired by Providence Equity Partners, a global private equity firm focused on media, communications, education and information investments. The investment from Providence will accelerate corporate growth initiatives and further Miller Heiman's presence in global markets. Terms of the transaction were not disclosed.
Sam Reese, Chief Executive Officer of Miller Heiman, said, "We have always shown a consistent pattern of growth and innovation, including our two recent acquisitions of Channel Enablers and Impact Learning Systems, the addition of the Miller Heiman Research Institute, and the phase-one rollout of our mobile strategy in just the last 13 months. We are poised for our next chapter of growth. Providence shares our excitement about the company's strengths and future prospects, and they have an excellent record of supporting innovative companies like Miller Heiman. Partnering with Providence is a launching pad for more significant and rapid growth."
Miller Heiman is the leading sales performance training and consulting firm, serving clients in over 35 countries and working with some of the most respected companies in the world. Miller Heiman will continue to leverage their expertise and industry leading research as they pursue their vision of becoming the undisputed key resource to sales leaders across the globe. Central to this vision is The Miller Heiman Sales System, which provides a framework for sales leaders to understand their performance gaps and prioritize initiatives that will have the greatest impact on driving results and improving relationships with customers.
"Miller Heiman has proven industry expertise and a long track record of success," said Steven Alesio, Senior Advisor to Providence Equity Partners. "We see compelling opportunities for them to grow their business around the world. With its premier brand in the sales performance space and the ability to expand on its leadership position, Miller Heiman is an excellent platform to build on in the corporate education sector, and it complements our existing portfolio of education investments. We look forward to working with Sam and the Miller Heiman team to add lasting value to the company in the years ahead."
Mr. Reese concluded, "The needs of sales leaders continue to evolve at an extremely rapid rate. To further our leadership, we wanted a partner with the resources and insights to help us bring new solutions into our practice, quickly. This means there will be more services in our future that will bring additional value to our customers in the areas that we see as emerging in greater importance for sales leaders."
Miller Heiman will continue to be led by its existing senior management team and maintain key offices in Reno, Nevada; Denver, Colorado; Milton Keynes, United Kingdom and Sydney, Australia.
About Miller Heiman:
Miller Heiman is a proven leader in sales performance, bringing game-changing insight to sales leaders worldwide for more than 35 years. With the experience gained from over 20,000 engagements, working with 1.5 million plus alumni, we help businesses implement sales-execution best practices to increase close rates, reduce sales cycles and lower the cost of complex sales. Our clients profit from our world-class selling system and repeatable methodologies, which leverage extensive research and a precise, customer-centric approach to promote sustained results. With offices around the world (United States, United Kingdom and Australia), Miller Heiman delivers consistent and timely results.
About Providence Equity Partners
Providence Equity Partners is the leading global private equity firm specializing in equity investments in media, communications, education, and information companies around the world. The principals of Providence manage funds with $27 billion in commitments and have invested in more than 130 companies globally since the firm's inception in 1989. Significant existing and prior investments include ABTL (Indus Towers), Altegrity, AutoTrader.com, Blackboard, Bresnan Communications, Com Hem, Digiturk, Education Management Corporation, eircom, ikaSystems, iQiyi, Grupo TorreSur, Hulu, Idea Cellular, Kabel Deutschland, NEW Asurion, PanAmSat, ProSiebenSat.1, Study Group, TDC, TVB, UFO Moviez, Univision, VoiceStream Wireless, Warner Music Group, Wize Commerce, World Triathlon Corporation, and Yankees Entertainment and Sports Network. Providence is headquartered in Providence, RI (USA) and also has offices in New York, London, Hong Kong, Beijing, and New Delhi. Visit www.provequity.com for more information.
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