Leading global provider of outsourced, face-to-face sales teams purchases balance of company from private equity partners
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- Setting an independent course for future growth, the management of Cydcor, the leading provider of outsourced, face-to-face sales teams, has acquired the balance of Cydcor from Golden Gate Capital and JP Capital Partners.
“This is an exciting time for everyone associated with Cydcor, and this move speaks to our ongoing success and continuing potential in charting our future growth,” said Gary Polson, CEO of Cydcor. “We look forward to capitalizing on new opportunities to grow the business, further achieving outstanding results for our clients and rewarding those who are motivated, driven and eager to succeed.”
Added Jim Majeski, president of Cydcor: “This acquisition presents the next great opportunity to improve Cydcor’s already industry-leading service and explore new business avenues that align with our core purpose – to champion our client’s brands and provide opportunity for our people. There’s a lot to celebrate – great clients, our leading professional sales organization, fabulous employees and new prospects for growth.’’
Cydcor has grown into a dominant market leader in providing business-to-business, residential and retail sales support to Fortune 500 and emerging market clients across North America. Earlier this year, Cydcor achieved its highest first-quarter and second-quarter revenue growth in the company’s history after achieving overall company growth of 15.2 percent in 2011. Cydcor is on pace to achieve record growth in 2012 through continuing expansion of the company’s network of independently-owned sales offices across North America, widening of core campaigns, and a deepening presence into the retail industry sector. Currently, Cydcor has retail sales representatives in more than 260 stores, and the number is increasing each month.
In August, Cydcor was again named among one of the “Best Places to Work” by the Los Angeles Business Journal. Last year, Cydcor also achieved this honor and was recognized for the valuable programs, services, and corporate culture. "Our unique culture is one that propels our success and will continue to be the engine behind our future growth," said Vera Quinn, Chief Operating Officer.
“Our management buyout is just the latest milestone in an 18-year history that will give all of us at Cydcor the chance to write new exciting chapters for the company and in our own personal growth,’’ Polson said. “The opportunities really are limitless. We now control our destiny.”
Cydcor is the leading provider of outsourced, in-person professional sales teams to a diverse client base of companies in a wide range of industries, including telecommunications, office products, retail, energy, and financial services. Serving Fortune 500 and emerging market clients in the business-to-business, residential, and retail channels, Cydcor works with a network of more than 300 independently-owned corporate licensee (ICL) Cydcor sales offices, providing clients access to more than 3,300 sales professionals. The privately-held company is based in Westlake Village, California. For more information about Cydcor, go to www.cydcor.com.
Gail Michalak, 805-277-5500
Source: Cydcor, Inc.