Leeds Equity Partners Acquires VitalSmarts

Leeds Equity Partners backs leading provider of communication, execution, and leadership development training

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Sep 30, 2019, 16:57 ET

NEW YORK, Sept. 30, 2019 /PRNewswire/ -- Leeds Equity Partners, LLC, ("Leeds Equity") the New York-based private equity firm focused exclusively on investing in the Knowledge Industries, announced today that it has acquired VitalSmarts, LC ("VitalSmarts" or the "Company") from TwentyEighty, Inc. Founded in 1989, VitalSmarts is the leading provider of communication, execution and leadership development training. VitalSmarts represents the ninth platform investment for Leeds Equity Partners VI, L.P. Terms of the transaction were not disclosed.

"Companies increasingly appreciate the importance of creating and fostering cultures that drive performance. Communication, execution and leadership skills need to be taught and practiced," said Scott VanHoy, Partner of Leeds Equity Partners. "VitalSmarts is the gold standard in training employees with these critical, 21^st century foundational skills such as resolving disagreements, building acceptance and overcoming resistance, speaking persuasively, and fostering teamwork."

"Leeds Equity has a proven track record of success in the training sector," said Andrew Shimberg, CEO of VitalSmarts. "We are confident that Leeds Equity is the right partner for us and shares our vision of providing best-in-class experiences and outcomes for corporate clients and learners. With Leeds Equity's help, we aim to train more than one million people annually with crucial workplace advancement skills."

Eric Geveda, Managing Director of Leeds Equity said, "We are excited to have completed our investment in VitalSmarts and look forward to working closely with Andy and the VitalSmarts team as they continue to build on their successes across the corporate training market. The commitment they have shown to excellence in all of their training is reflected in the outstanding learning outcomes they help produce."

VitalSmarts represents Leeds Equity's latest partnership in workplace solutions, professional training and certification. Other current investments in the sector include: BARBRI, a global legal education provider; CeriFi, a provider of education and licensure solutions to financial institutions; LRN, a global provider of ethics and compliance education, learning technology and data analytics to Fortune 2000 companies; Prosci, an industry-leading provider of change management training and solutions; Scaled Agile, the provider of SAFe®, the world's leading framework for enterprise agility; and Simplify Compliance, a provider of workforce information solutions and training for human resource and healthcare professionals.

Latham and Watkins, LLP served as legal counsel to Leeds Equity Partners. Raymond James served as financial advisor and Kirkland & Ellis LLP served as legal counsel to TwentyEighty, Inc.

About Leeds Equity Partners:

Leeds Equity Partners, LLC, is a New York-based private equity firm dedicated exclusively to partnering with management teams in the education, training and information services industries (the "Knowledge Industries"). The firm was founded in 1993 and has deployed $2.7 billion of capital across a broad spectrum of companies within the Knowledge Industries. Leeds Equity seeks to leverage its sector-focused expertise and market insights to create long-term value for its partner companies.

For additional information on Leeds Equity, see https://www.leedsequity.com/

About VitalSmarts:

VitalSmarts is a leading provider of communication, execution and leadership development training. The Company's training solutions turn proven behavioral science principles into learnable, repeatable skills and enable enterprise clients to improve performance by addressing underlying employee behaviors. VitalSmarts' core IP is based on New York Times bestselling books, including Crucial Conversations, Crucial Accountability, Influencer, Getting Things Done and The Power of Habit. VitalSmarts was founded in 1989 is based in Provo, Utah.

For additional information on VitalSmarts, see https://www.vitalsmarts.com/

For More Information:
Jeffrey T. Leeds
Tel. 212-835-2000
Fax: 212-835-2020
www.leedsequity.com

SOURCE Leeds Equity Partners, LLC