Vicente Capital Partners has acquired a “significant” stake in Global LT. No financial terms were disclosed; however, Abacus Finance provided debt financing for this transaction. Based in Troy, Michigan, Global LT is a provider of language training, cultural training, translations and expatriate destination services.
LOS ANGELES, CA–(Marketwired – Jul 9, 2014) – Vicente Capital Partners (VCP), a leading growth equity investment firm, announced today that an affiliate of its Growth Equity Fund acquired a significant interest in Global LT, Inc. (Global LT), a leading provider of training, translation and mobility solutions that facilitate employee relocations and talent development around the world. VCP’s investment is the first institutional capital that Global LT has raised in its 35 year history.
Headquartered in Troy, Michigan, Global LT offers a comprehensive portfolio of communication and relocation services to relocation management companies and Fortune 1000 corporations to ensure smooth transitions for employees and their families in what can be a complex and challenging process. Drawing on a distributed talent network built over 35 years in over 3,400 locations worldwide, Global LT is able to offer flexible communication and mobility solutions anywhere in the world leveraging the linguistic and cultural expertise of over 2,800 trainers, translators and relocation specialists.
Global LT’s management team has extensive experience in global mobility and language learning services and is led by Chief Executive Officer Lisette Poletes (the daughter of Global LT’s late founder, Hortensia Albertini) and President Tom Hanson.
“We are excited to partner with Lisette, Tom and their team,” said Jay Ferguson, Managing Partner of Vicente Capital Partners. “For 35 years, Global LT has delivered excellent customer service and developed long-term relationships, providing flexible mobility solutions to some of the largest multinational corporations in the world. We look forward to partnering with management to help the company accelerate its growth and capabilities.”
“Vicente Capital Partners shares our vision to enhance the language learning and relocation experiences of expatriates and their families and to meet the needs of increasingly global organizations,” said Lisette Poletes, Global LT Chief Executive Officer. Global LT’s President, Tom Hanson added, “We are excited about this partnership and believe that together we can continue to innovate and augment our integrated offerings.”
Jay Ferguson and Jason Beck of Vicente Capital Partners and Krishnan Ramaswami, who is an advisor to the Vicente fund, will join Global LT’s board of directors.
Global LT was represented by Signal Hill, a leading independent advisory boutique serving the M&A and private capital raising needs of growth companies. Abacus Finance provided debt financing in connection with this transaction. Dickinson & Wright served as legal advisor to Global LT. Richardson Patel served as legal advisor to Vicente Capital Partners. No financial details were disclosed.
About Global LT
Global LT is a world renowned provider of language training, cultural training, translations and expatriate destination services that empower individuals to live and work successfully anywhere in the world. The company’s innovative language training services emphasize a proficiency-based approach to accommodate a variety of learning styles and focus on personalized, student-directed instruction. The company’s programs are delivered across multiple modalities including instructor-led, virtual, self-paced and blended, are customized for individuals or groups, and are available in over 70 languages. To learn more about Global LT, please visit www.global-lt.com.
About Vicente Capital Partners
Vicente Capital Partners is a private equity firm specializing in both non-control and control investments in growth businesses that have annual revenues between $5 million and $50 million. The firm’s investment professionals have a long and successful track record of partnering with management teams to create and realize value across a number of different industries including: Business Services (outsourced services, Internet services, telecom services); Consumer Services (healthcare services, residential delivery, education); and Specialty Manufacturing (aerospace & defense, environmental products, networking/telecom equipment). Current investments include iBwave Solutions, Intellectual Technology, SMT, VXi Corporation, Campus Explorer, and MedBridge. Prior investments include Overture, Rent.com, Cogent Communications, Sensor Systems, Transoft Networks, LivHome, and O2 Science, among others.
For more information about Vicente Capital Partners, please visit www.vicentecapital.com.