February 15, 2015
Sterling Investment Partners Sells Interest in Survey Sampling International; Remains Minority Investor
Westport, CT – February, 2015 -- Sterling Investment Partners (“Sterling”), a leading middle market private equity firm, sold a significant portion of its equity interest in Survey Sampling International (“SSI”) to HGGC, a private equity firm based in Palo Alto, CA. The investment makes HGGC the majority owner of the company. Sterling will maintain a minority stake in SSI along with Providence Equity Partners. Sterling and Providence Equity Partners have jointly owned SSI since 2011, and each will continue to be represented on the board of directors of SSI’s parent.
Sterling has worked in partnership with management and Providence Equity Partners to build the premier global provider of data solutions and technology for consumer and business-to-business survey research. Today SSI reaches respondents in 86 countries via Internet, telephone, mobile/wireless, and mixed-access offerings. Chris Fanning, President and CEO of SSI, stated, “We have experienced successful growth over the past several years, and enjoyed our partnership with Sterling. Together we positioned the company to be at the forefront of the data collection and analytics industry and look forward to achieving further expansion with our new partner.” William Macey, Co-founder and Managing Partner of Sterling stated, “Chris and the team have done a tremendous job. Today SSI is a clear market leader and is well positioned to take advantage of multiple opportunities in the data collection market. We look forward to remaining a partner in the company.”
Survey Sampling International, LLC
SSI is the premier global provider of data solutions and technology for consumer and business-to-business survey research, reaching respondents in 86 countries via Internet, telephone, mobile/wireless and mixed-access offerings. SSI staff operates from 25 offices in 18 countries, offering CATI, questionnaire design consultation, programming and hosting, online custom reporting and data processing. SSI’s 3,300 employees serve more than 3,000 clients worldwide. More information is available at www.surveysampling.com.
Sterling Investment Partners
Sterling Investment Partners (“Sterling”) is a private equity firm that has been investing in and building middle-market companies for almost 25 years with a highly experienced, cohesive team of senior investment professionals. Sterling acquires businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Sterling has $1.5 billion in initial fund commitments. Over its history, Sterling has completed platform investments, strategic or add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of approximately $10 billion, representing more than 100 transactions. Key industries Sterling focuses on include business services, industrial and consumer value-added distribution, niche manufacturing, and transportation and logistics. www.sterlinglp.com