Reno, NV, August 06, 2008 --(PR.com
)-- Miller Heiman, a global sales consulting and training company based in Reno, Nev., announced today a change in ownership as a result of investments from Sterling Investment Partners, a leading middle-market private equity firm, and the Miller Heiman management team. Additional investment partners include GE Capital, Madison Capital and York Street Capital Partners.
“Given today’s difficult capital markets, we are proud to announce that, through our track record of producing financial results, Miller Heiman was able to attract a high-caliber pool of investors that align well with our growth objectives,” said Sam Reese, president and CEO of Miller Heiman. “In today’s challenging economy, smart companies continue to focus on improving the effectiveness of their sales force as well as solidifying relationships with their key clients. We are fortunate to work with client organizations that recognize the value of investing in their sales organizations.”
These new investments will allow Miller Heiman to commit greater financial resources to corporate growth initiatives and expand its global footprint. Currently, Miller Heiman has corporate offices in the United States, the United Kingdom, and Australia and offers programs in more than 30 countries.
According to Sterling partner, Doug Newhouse, Sterling intends to work closely with Miller Heiman management to provide ongoing capital and strategic resources to support the company’s growth initiatives.
“We believe that Miller Heiman is an outstanding company with great potential to continue the momentum that has been consistent under Sam Reese’s eight years of leadership,” Newhouse said. “The company is the recognized leader in a very attractive market, with a premier brand name and long-term relationships with numerous blue-chip clients.”
Prior to the change in ownership, Miller Heiman was held by Leeds Equity Partners, LLC, who acquired the company in 2005 in a leveraged buyout transaction. Under the ownership of Leeds, Miller Heiman extended its global reach by purchasing an Australia-based sales consultancy, consistently exceeded revenue and EBITDA goals, and expanded its solution suite through various new products and technology enhancements.
“I am proud to see our company exceed expectations and benefit our investors, clients, employees and partners who have helped make this growth possible,” Reese said. “I look forward to the opportunities this new investment will open up to help propel the company to new heights.”
About Sterling Investment Partners
Sterling Investment Partners, based in Westport, Connecticut, invests in companies with significant competitive strengths and growth potential. Sterling has completed investments, strategic or add-on acquisitions, and liquidity events with an aggregate transaction value in excess of $7 billion, representing over 75 companies. Sterling maintains a broad industry focus, including professional and business services, manufacturing, transportation and logistics, and technology-related businesses. www.sterlinglp.com
About Miller Heiman: The Sales Performance Company
For 30 years, Miller Heiman has brought precision to the art of selling through simple, yet powerful processes and tools to help drive performance, especially in complex selling environments. Miller Heiman publishes the award-winning Sales Performance Journal and conducts the world’s largest annual research project on sales effectiveness, the Miller Heiman Sales Best Practices Study. This study reveals best practices, trends, issues, and opportunities in today’s selling environment. As the thought leader in sales performance, Miller Heiman provides organizational sales process implementations that result in revenue predictability, clearer sales management communication, and best practice selling activities that can be replicated. Headquartered in Reno, Nevada, Miller Heiman has offices around the world and partners in more than 30 countries. For more information, please call 1-877-506-2973.