European holding group buys Nashua's Skillsoft
SkillSoft President and CEO Chuck Moran speaks in 2009 at the New Hampshire High Technology Council Entrepreneur of the Year ceremony in Manchester. (UNION LEADER FILE)
Charterhouse Capital Partners LLC is set to purchase Skillsoft, based in Nashua. The business training software firm announced the acquisition on Friday.
Skillsoft went up for sale at the start of the year for about $2 billion. Although the price of the acquisition has not yet been disclosed by company officials, Reuters reported it at about $2.3 billion.
Moran described Charterhouse as a well-known, highly respected private equity firm based in London and Paris that invests in strong management teams and businesses with proven track records for success and potential growth.
"I can assure you that this will continue to be our focus," he said in the letter. "Further, we will have the support of a private equity firm with significant financial resources, and look forward to leveraging those resources to build upon the positive momentum we have created over the years."
Frank van den Bosch, a partner of Charterhouse, said in a statement that his firm is delighted to have the opportunity to partner with Skillsoft, which has its world headquarters in Dublin, Ireland, and its national headquarters in Nashua at 107 Northeastern Blvd.
Skillsoft was taken private by Berkshire Partners, Advent and Bain in 2010 for $1.1 billion. It reported adjusted earnings before interest, tax, depreciation and amortization of $139.2 million for the 12 months ended Jan. 31, 2013, up from $111.1 million the year before.
"We believe that the company is very well-positioned to continue to enhance its leadership position in the field of technology-delivered learning," Ascione said in a news release.
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