Richardson Merges with Sales Performance International
Founded in 1978, Richardson is a globally renowned corporate sales training leader headquartered in Philadelphia, PA. The company is a pioneer in its field, offering a diverse, modern, and cohesive suite of training courses delivered through its unique blended-learning approach. The company’s subscription-based, digital learning platform offers customizable programs and advisory across a range of industries, designed to help organizations optimize their sales processes and methods.
The team at Navagant advised Richardson on its sale to Sales Performance International (SPI), a global sales performance training company focused on their unique Solution Selling® process and methodology. SPI is a portfolio company of Kartesia, a UK-based private equity firm.
John Elsey, CEO of Richardson, and Jurgen Heyman, CEO of SPI
“The sales training industry now has a strategic market leader that can provide scalable, end-to-end learning and enablement solutions that drive measurable sales results. The combination of our two companies provides our customers with globally proven sales methodologies, cutting-edge digital learning technology, CRM-based sales execution tools, and most importantly, a way to objectively measure ROI. We are delighted to join forces to drive long-term, sustainable results for our customers around the world.”
Jacob Voorhees, Managing Director, Navagant
“I am excited to see the creation of a strategic market leader that can provide scalable learning solutions for organizations worldwide. With their combined expertise, proven sales methodologies, and cutting-edge digital learning technology, Richardson and SPI are positioned to transform the sales training industry. This merger not only offers businesses the opportunity to optimize their sales processes and drive measurable results but also demonstrates a commitment to long-term, sustainable growth. The ability to objectively measure ROI further solidifies the value proposition of this partnership. I look forward to witnessing the positive impact this merger will have on sales teams, businesses, and the broader marketplace.”
Benefits & Long-Term Value Creation
By combining their expertise and resources, the merger will allow not only innovation within the industry but provide more businesses with access to enhanced sales training solutions. This will enable companies to improve their sales processes, drive revenue growth, and create employment opportunities. As businesses become more efficient and successful, they contribute to economic development, stimulate job markets, and foster innovation. Additionally, the focus on measuring return on investment ensures responsible use of resources and encourages sustainable business practices. By empowering organizations to thrive, the merger between Richardson and SPI will enable economic growth, resulting in job creation and enhanced consumer experiences.
Founded in 1988, Sales Performance International (SPI) is a sales training and performance enhancement services company. They provide a comprehensive platform for optimizing sales performance, which consists of three integrated elements: talent assessment and analytics, continuous learning and development, and sales enablement technologies. By utilizing these components, SPI enables organizations around the world to improve their consulting and training operations, achieve quantifiable revenue growth, and expedite the time it takes to see positive results.
Kartesia is a London-based lending and debt provider firm who specializes in servicing small and mid-market companies. With a fundamental and disciplined approach, Kartesia specializes in offering long-term liquidity and credit solutions. They primarily focus on investing in leveraged loans, particularly targeting small and mid-market companies. Kartesia acquired Sales Performance International (SPI) in October of 2017.
Navagant LLC is a middle-market investment bank focused exclusively on the Education & Training industry. We serve entrepreneurs, family businesses, large corporations, and financial sponsors seeking to optimize their transaction outcomes. Our sell-side advisory services include mergers and acquisitions, majority and minority recapitalizations, management buyouts, and corporate carve-outs. With a conscious-capital mission and a team of experienced professionals, Navagant delivers tailored solutions to help organizations unlock value and achieve life-changing outcomes. For more information, please visit http://www.navagant.com.