HGGC has completed its previously announced acquisition of a majority stake in Survey Sampling International. No financial terms were disclosed. As a result of the transaction, Providence Equity Partners and Sterling Investment Partners, SSI’s joint owners, will retain minority stakes in the business. Based in Shelton, Conn., SSI is a provider of data solutions and technology for consumer and business-to-business research.
PALO ALTO, Calif.—December 17, 2014—HGGC, a leading middle market private equity firm, today announced that it has completed its majority investment in the parent company of Survey Sampling International, LLC (“SSI” or “the Company”), a leading provider of data solutions and technology for consumer and business-to-business research. The investment was done in partnership with Providence Equity Partners and Sterling Investment Partners, who are retaining minority stakes in the business. Terms of the transaction were not disclosed.
Founded in 1977 and headquartered in Shelton, Connecticut, SSI utilizes its online, mobile and offline capabilities to help deliver market research insights by managing more than 31 million surveys annually. The Company’s more than 3,000 customers include some of the largest organizations in the world, ranging from leading market research and consulting firms to Fortune 500 businesses and universities. With 25 offices in 18 countries on five continents, SSI is focused on people, panels and technology to deliver both consumer and business-to-business based intelligence on a global scale.
“We look forward to a productive partnership with HGGC while we work to accelerate our growth strategy and increase our global presence,” said Chris Fanning, President and CEO of SSI. “We recorded substantial revenue growth in 2014, and are excited by the opportunities we see ahead for the Company.”
“HGGC and the SSI management team share a vision for how the Company can address the growing demand for actionable market insights,” added Rich Lawson, CEO and Managing Partner of HGGC. “We will work closely with Chris and his team to effectively leverage SSI’s industry-leading experience and diverse market knowledge to grow its customer base and bring innovative market research solutions to global clients.”
SSI marks HGGC’s ninth investment of 2014, and seventh information services investment this year, following AutoAlert and Serena Software.
SSI is the premier global provider of data solutions and technology for consumer and business-to-business survey research, reaching respondents in 86 countries via Internet, telephone, mobile/wireless and mixed-access offerings. SSI staff operates from 25 offices in 18 countries, offering CATI, questionnaire design consultation, programming and hosting, online custom reporting and data processing. SSI’s 3,300 employees serve more than 3,000 clients worldwide. More information is available at www.surveysampling.com.
Based in Palo Alto, California, HGGC is a leading private equity firm focusing on leveraged buyout, recapitalizations and growth equity transactions in the middle market. HGGC seeks to partner with strong management teams, founders and sponsors to build companies capable of generating sustainable growth. With years of collective deal and operational experience, HGGC brings best practices from private equity and global corporations to help middle market businesses in a wide range of industries outperform the market. More information is available at www.hggc.com.
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 firm manages funds with over $40 billion in commitments and has invested in more than 140 companies globally since its inception in 1989. Providence is headquartered in Providence, RI and also has offices in New York, London, Hong Kong, Beijing, and New Delhi. More information is available at www.provequity.com.
About Sterling Investment Partners
Sterling Investment Partners (“Sterling”) has been investing in and building middle-market companies for almost 25 years with a highly experienced, cohesive team of senior investment professionals. Sterling acquires businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Sterling has a long history of working in partnership with management teams. Sterling has approximately $1.25 billion of equity capital under management, which includes significant investment from Sterling’s professionals. Over its history, Sterling has completed platform investments, strategic or add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of approximately $9.0 billion, representing more than 100 transactions. Key industries Sterling focuses on include business services, industrial distribution, consumer distribution and retail, niche manufacturing, and transportation and logistics. www.sterlinglp.com