San Diego, Calif. – November 30, 2012 – Vistage International, Inc., the world’s largest for-profit peeradvisory membership organization of CEOs and business executives, today announced that TowerBrook Capital Partners L.P. (“TowerBrook”) and Education Growth Partners (“Edgrowth”) has acquired a majority interest in the company. With more than 16,000 members in 15 countries, Vistage delivers leadership development and business value to CEOs and key executives in the United States and around the world through a professionally-facilitated peer-advisory process, one-on-one coaching and mentoring, content from experts, and connectivity forums.
Vistage was founded in 1957 as TEC (The Executive Committee), a forum for business leaders to share their issues and experiences to help each other generate better decisions and results for their companies. Today, Vistage members provide each other the same kind of counsel and support by meeting in person, collaborating online, and learning from hundreds of top industry speakers. Vistage member companies, which generate nearly $300 billion in annual revenue and employ approximately 2 million people worldwide, outperform their competitors and small-medium businesses in general.
TowerBrook, a New York- and London-based investment firm, and EdGrowth, a private equity firm focused exclusively on the education sector, have acquired a majority interest in Vistage. The two firms acquired Vistage from a consortium of private investors. Terms of the transaction were not disclosed.
Rafael Pastor, CEO of Vistage, commented, “TowerBrook and Education Growth Partners both have a track record of success in helping grow the companies they invest in. I am confident that TowerBrook, together with Education Growth Partners, understand and appreciate the distinct value Vistage provides to CEOs and other senior executives through our professionally-facilitated peer-advisory experience, and I am eager to work with both firms to help facilitate the next phase of Vistage’s growth and expansion.”
Brian Jacobsen, Managing Director, TowerBrook, added, “Vistage is a high-quality, market-leading business with a strong and loyal membership base and an excellent management team. We believe the company has tremendous potential, and we look forward to helping to grow this unique community of Chairs, members and speakers both in the U.S. and internationally.”
Peter Campbell, Managing Partner of Education Growth Partners, commented, “The Vistage team has built an exceptional business and community. We are excited to partner with TowerBrook Capital Partners and Vistage management to continue to strengthen and grow the business and the community.”
About Vistage International, Inc.
Founded in 1957, Vistage International, Inc., headquartered in San Diego, California, is the world’s leading peer-advisory membership organization, serving more than 16,000 CEOs and senior level executives in 15 countries. Vistage members participate in professionally-facilitated peer-advisory board meetings, receive one-to-one coaching, learn from expert speakers, and interact among a global network of business leaders from a broad range of industries. For more information, visit www.vistage.com.
About TowerBrook Capital Partners LP
TowerBrook Capital Partners L.P. is an investment management firm with approximately $4.5 billion of capital under management. With offices in New York, London and San Francisco, the firm focuses on making investments in North American and European companies. TowerBrook primarily pursues controloriented private equity investments in large and middle market companies, partnering with highly capable management teams, often in situations characterized by complexity. For more information, visit www.towerbrook.com.
About Education Growth Partners
Founded in 2010 by longtime education investors Peter Campbell and Christopher Curran, Education Growth Partners is the premier growth private equity firm focused exclusively on the Pre-K12, higher education, corporate training and lifelong learning sectors. The firm leads growth capital financings, minority recapitalizations, and buyouts of profitable, high-growth companies in the target sectors. The firm has offices in Stamford, Connecticut and Boston, Massachusetts. For more information, visit www.edgrowthpartners.com.