Vector Solutions Announces Completion of Acquisition by Golden Gate Capital
TAMPA, FL and SAN FRANCISCO, CA – November 26, 2018 – Vector Solutions (“Vector” or “the Company”), a leader in eLearning and SaaS performance support solutions for the world’s most critical industries, today announced the completion of the Company’s previously announced acquisition by Golden Gate Capital from Providence Equity Partners. CEO Jeff Gordon and the current management team will continue to lead Vector, which will remain headquartered in Tampa, FL.
Founded in 1999, Vector Solutions offers SaaS-based, compliance-driven enterprise eLearning, workforce management and performance improvement solutions to targeted industries in three primary sectors: commercial, public sector, and education. Their innovative products help organizations improve outcomes, optimize performance, and reduce risk in many industries, including engineering and construction, industrial manufacturing, K12 and higher education, and public safety.
“This transaction is validation of the strong company Vector has built and allows us to continue on our strategic path and execute on the next phase of our growth,” said Mr. Gordon. “Alongside Golden Gate Capital, which has deep software industry and operational experience, we will focus on enhancing our product capabilities and offerings, building out best-in-class delivery competencies, and expanding geographically. We look forward to working collaboratively with our partners at Golden Gate Capital to unlock growth opportunities and execute on our strategy over the long-term.”
“In an environment where companies and institutions are increasingly seeking to enhance the long-term performance of workforces, Vector is well-positioned to continue developing the mission-critical tools to help them achieve their goals,” said Rishi Chandna, a Managing Director at Golden Gate Capital. “We are excited for the opportunity to partner with Jeff and the terrific Vector management team to accelerate the Company’s strategic initiatives as Vector enters its next phase of growth.”
About Vector Solutions
Vector Solutions, a leader in eLearning and performance support, provides award-winning SaaS solutions for the architecture, engineering, construction (AEC), industrial, facilities management, public safety, IT and education industries. Its brands, RedVector-Convergence Training, TargetSolutions, and SafeSchools, deliver continuing education (CE), training, technology and performance management solutions using the latest innovations in learning and technology to create safer, more capable, more compliant organizations. Its extensive online and mobile learning library offers approximately 8,000 courses written by over 250 subject matter experts and reaches over 7 million professionals worldwide. The company was founded in 1999 and is headquartered in Tampa, Florida. For more information, visit www.vectorsolutions.com. Follow us on twitter @VectorPerform and on Facebook at: www.facebook.com/VectorPerformance.
About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity investment firm with over $15 billion of capital under management. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Other notable software investments sponsored by Golden Gate Capital include Infor, BMC Software, LiveVox, and 2020 Technologies. For more information, visit www.goldengatecap.com.
Golden Gate Capital
Jenny Gore / David Isaacs
Sard Verbinnen & Co
(312) 895-4700 / (415) 618-8750