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Zurmont Madison acquires majority interest in CLS Communication

Zurmont Madison Private Equity has acquired a majority interest in language services provider CLS Communication.

Zurmont Madison Private Equity has acquired a majority interest in language services provider CLS Communication.

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 chief executive 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 incorporated with registered office in Basel.

Today CLS is a provider of integrated multilingual communication services in its core areas of finance, insurance, life sciences, telecommunications and legal. The company is one of the 15 largest global language services providers.

CLS offers a broad range of services including copywriting and editing, human and machine translation, terminology databases as well as integrated client applications.

As a result of the transaction, new directors from Zurmont Madison Management, Zurich, will join the CLS board of directors, which currently consists of Alfred Niederer, Markus Hildbrand and Albisser. The new members are Guido Patroncini (pictured), Andreas Ziegler and Michel Hirschi. The company’s operational management will remain in the hands of the present executive team.

Patroncini, founding partner of Zurmont Madison Management, says: "We look forward to embarking on the next stages of growth together with the successful CLS team. Zurmont Madison will offer financial backing as well as support for the execution of a buy-and-build strategy."

Albisser adds: "With Zurmont Madison we have found a shareholder that fits well with CLS and is committed to long-term success. This capital injection will enable us to continue and redouble our growth efforts. We look forward to a successful and constructive partnership."

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