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Article: Zurmont Madison Private Equity Acquires Majority Interest in CLS Communication AG.
- Article from:
- Investment Weekly News
- Article date:
- August 1, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Zurmont Madison Private Equity L.P. ("Zurmont Madison") has acquired a majority interest in the leading language services provider CLS Communication AG ("CLS"). The deal consists of a partial buyout of the existing managing shareholders combined with an increase in the company's equity. The funds will be used to make further acquisitions and finance ongoing global expansion. On completion of the transaction, the existing management team headed by CEO Doris Albisser will hold a substantial minority interest.
CLS Communication was formed in 1997 as a spin-off from the language services departments of Swiss Bank Corporation (now UBS) and Zurich Insurance and was ...
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