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
CLS Communication was formed in 1997 as a spin-off from the language services departments of Swiss Bank Corporation (now UBS) and Zurich Insurance
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