ClearLight Partners has sold Philadelphia-based Richardson, a provider of tech-enabled, enterprise sales training solutions to the Global 1000. The buyer is European investor Kartesia. No financial terms were disclosed. Kartesia will merge Richardson with portfolio company Sales Performance International.
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Private equity firm ClearLight Partners announced today that it has sold Richardson to Kartesia, an independent and privately-owned European investor in small and middle-market companies, which will merge Richardson with Kartesia’s existing portfolio company, Sales Performance International (SPI).
Headquartered in Philadelphia, Pennsylvania, Richardson is a leading provider of tech-enabled, enterprise sales training solutions to the Global 1000. With over four decades of successful client outcomes, Richardson is known for its role in creating step-change improvements in sales force effectiveness. With a modern and comprehensive suite of content and services, Richardson helps clients better find, win and grow profitable new business.
ClearLight was attracted to Richardson because of the company’s thought and market leadership positions in the sales training sector. Together, ClearLight and the Richardson team helped the business enter new markets, modernize and expand its product offering and delivery methods, and establish Richardson as a global organization able to address the needs of the largest and most sophisticated clients in the world. “Richardson has a superb reputation in the market for its unique connected curriculum of content and solutions, and its ability to drive positive lasting change in selling organizations,” commented Andrew Brennan, a Partner at ClearLight. “It has been a privilege to work with the company’s incredibly talented team as they have successfully grown and improved the business.”
“ClearLight was a great partner with a long-term focus on building enduring enterprise value. Their patient support helped us enter new markets, expand and modernize our sales training content and generate a tangible return on investment for our clients,” said John Elsey, CEO of Richardson. “The company is as strong as it has ever been and is well positioned to continue helping our clients maximize the effectiveness of their sales teams.”
“We are proud to have been a long-term partner with Richardson and its great management team,” said Michael Kaye, Managing Partner at ClearLight.
ClearLight was advised by Capstone Headwaters and Armstrong Teasdale LLP.
About ClearLight Partners
ClearLight Partners is a private equity firm in Southern California that invests in established, profitable middle-market companies with significant growth potential. Since inception, ClearLight has raised $900 million in capital across three funds from a single limited partner. The team at ClearLight has extensive operating and financial experience and has a history of successfully partnering with owners and management teams to drive growth and create value.
For more information, please visit www.clearlightpartners.com.