WESTLAKE VILLAGE, California (March 1, 2007) - Cydcor Limited (www.cydcor.com), the leading outsourced face-to-face sales organization for general industry in North America., has been acquired by Golden Gate Capital, a San Francisco-based private equity firm with over $3.4B in capital under management, and JP Capital Partners, a Los Angeles-based private equity firm. Members of the senior management team at Cydcor also own a significant percentage of the Company’s equity and are members of the board of the Company. Financial terms of the transaction were not disclosed. Cydcor was advised by its investment bankers at Hadley Partners, Incorporated.
The leadership team currently responsible for the operations of Cydcor, including CEO Gary Polson, president James Majeski and CFO Ron Nathanson, will continue to grow Cydcor’s business.
“We are very excited to partner with Golden Gate and JP Capital. Their substantial investment in our Company is a testament to the tremendous progress our people and our business have made during the last five years,” said CEO Gary Polson. “This transaction will allow Cydcor to expand its customer base and pursue strategic opportunities in new markets and industries. We want to thank our founders and shareholders for their vision and their support of this business since 1994, and we want to thank our advisors at Hadley Partners, Incorporated for their outstanding job on our behalf.”
"We believe Cydcor is a tremendous investment opportunity given its scale, unique business model, and blue chip customer relationships," stated Prescott Ashe, a Managing Director of Golden Gate Capital. "Our financial support and industry knowledge, coupled with Cydcor’s world-class and highly motivated management team, will ensure continued strong performance."
Founded in 1994, Cydcor is the largest outsourced face-to-face customer acquisition company for general industry in North America. Cydcor works with an independent exclusive network of over 170 sales offices with a full-time professional sales force of over 2,400 people, making 90,000 face-to-face sales meetings per business day and over 20 million face-to-face meetings per year on behalf of its clients. For more information about Cydcor, log on to ( www.cydcor.com )
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