PROVIDENCE – Global private equity firm Providence Equity Partners has acquired Reno, Nev.-based Miller Heiman, Miller announced Wednesday.
Although financial terms of the deal were not disclosed, a Miller Heiman release said the investment from Providence Equity would help accelerate corporate growth initiatives and further the company’s presence in global markets.
“We have always shown a consistent pattern of growth and innovation, including our two recent acquisitions of Channel Enablers and Impact Learning Systems, the addition of the Miller Heiman Research Institute, and the phase-one rollout of our mobile strategy in just the last 13 months,” Sam Reese, CEO of Miller Heiman, said in a statement.
“We are poised for our next chapter of growth,” added Heiman. “Providence shares our excitement about the company’s strengths and future prospects, and they have an excellent record of supporting innovative companies like Miller Heiman. Partnering with Providence is a launching pad for more significant and rapid growth.”
According to a release, Miller Heiman is a leading sales performance training and consulting provider, and serves clients in more than 35 countries.
“Miller Heiman has proven industry expertise and a long track record of success,” Steven Alesio, senior adviser to Providence Equity Partners, said in a statement. “We see compelling opportunities for them to grow their business around the world.
“With its premier brand in the sales performance space and the ability to expand on its leadership position, Miller Heiman is an excellent platform to build on in the corporate education sector, and it complements our existing portfolio of education investments,” added Alesio. “We look forward to working with Sam and the Miller Heiman team to add lasting value to the company in the years ahead.”
Under the terms of the acquisition, Miller Heiman will continue to be led by its existing senior management team and maintain its key offices in Reno, Nev.; Denver, Colo.; Milton Keynes, United Kingdom; and Sydney, Australia.