Kohlberg & Company LLC has acquired CIBT Global Inc from ABRY Partners. No financial terms were disclosed. Based in McLean, Virginia, CIBT is a provider of travel visa and immigration services to corporations, travel management companies and individuals. Credit Suisse and William Blair provided financial advice to CIBT on the deal.
MCLEAN, Va.–(BUSINESS WIRE)–CIBT Global, Inc. (“CIBT” or the “Company”), the leading global provider of travel visa and immigration services to corporations, travel management companies, and individuals, announced today that it has been acquired by Kohlberg & Company, L.L.C. (“Kohlberg”), a leading private equity firm headquartered in New York, from ABRY Partners (“ABRY”).
CIBT, which is headquartered in McLean, Virginia, employs nearly 1,300 employees across 15 countries worldwide, including the United States, United Kingdom, Germany, Australia, and the Netherlands. The Company serves all major travel lanes requiring visas from these and numerous other jurisdictions. As the global leader in visa and immigration services, CIBT works side-by-side with its corporate and individual clients in these highly complex and time-sensitive processes.
John Donoghue, Chief Executive Officer of CIBT, remarked, “We are incredibly enthusiastic to be entering the next chapter of the Company alongside our new partners at Kohlberg. Kohlberg has a proven 30-year track record investing in business services companies, and we are excited that they recognized the significant value proposition that CIBT offers to its customers. Kohlberg represents a well-capitalized partner that will accelerate our ability to grow through both organic growth initiatives and strategic add-on acquisitions around the world.”
“CIBT is the clear market leader in travel visa and immigration services, providing a full suite of mission-critical services to blue-chip clients across the world,” commented Ahmed I. Wahla, Partner of Kohlberg. “We are very pleased to be partnering with CIBT’s management team and its dedicated, worldwide employee base, and we look forward to supporting the Company’s future growth initiatives.”
Azra Kanji, Partner of ABRY, remarked, “We have enjoyed our valuable partnership with the CIBT management team and appreciate all the work they have put in to create meaningful growth opportunities for the company. CIBT is a world class company, and we are confident the Company will build upon all of the successes we achieved together through its new partnership with Kohlberg.”
Credit Suisse and William Blair served as financial advisors and Kirkland & Ellis served as legal counsel to CIBT. Ropes & Gray served as legal counsel to Kohlberg. Antares Capital, Goldman Sachs, Jefferies, and Owl Rock led the debt financing for the transaction.
CIBT, headquartered in McLean, Virginia, is the leading global provider of mobility services including visa, passport, and immigration documentation. Through operations in North America, Europe, South America, Asia, and Oceania, CIBT serves multinational corporations, global travel management companies, tour and cruise operators, government agencies, and individual travelers. CIBT assists over one million individuals annually to obtain visas, passports, work permits, and related documents required for global mobility. CIBT’s services simplify the time consuming and complicated process of obtaining required travel documents and work authorizations, while providing an accurate and compliant service for corporate customers. For more information, please visit www.cibtvisas.com.
Kohlberg & Company, L.L.C. (“Kohlberg”) is a leading private equity firm headquartered in New York. Since its inception in 1987, Kohlberg has organized eight private equity funds, through which it has raised $7.5 billion of committed equity capital. Over its nearly 30-year history, Kohlberg has completed 70 platform investments and over 150 add-on acquisitions, with an aggregate transaction value in excess of $10 billion. For more information, please visit www.kohlberg.com.