Renovus Capital Partners (“Renovus”), a Philadelphia area private equity firm and Petra Capital Partners (“Petra”), a Nashville based private equity firm announced today the acquisition of Pragmatic Marketing, LLC (“Pragmatic Marketing” or the “Company”). Based in Scottsdale, AZ, Pragmatic Marketing is a corporate training company focused on serving product management and marketing professionals. The Company’s product management framework and world class instructors are recognized as best-in-class by leading technology companies throughout the world. The transaction will allow Pragmatic Marketing to expand its offerings and geographic reach to continue to serve the training needs of its clients.
“The Pragmatic Marketing team is thrilled to partner with Renovus and Petra,” said Jim Foxworthy, CEO. “They took time to understand the strengths of our Company and management team, and will enable us to execute on our plan to continue to grow and provide world class training to the best technology companies, domestically and abroad.”
“Companies have come to understand the powerful impact that good product management can have on their organizations. This realization is leading to increased influence of product managers within organizations and greater investment in the training of product leaders and their associates,” added Jesse Serventi, a Renovus founder. “The market growth, combined with Pragmatic Marketing’s strong brand as a thought leader in the field, is exactly what we look for in companies.”
“We are excited to be partnering with Jim and his team,” concluded Doug Owen, a principal with Petra. “Pragmatic has cultivated a driven and results-oriented culture that is a great fit for Petra and Renovus. We look forward to our future together and continuing to build this great company.”
MHT MidSpan served as the sell-side advisor to Pragmatic Marketing, and Quarles & Brady, LLP provided legal counsel to the Company. DLA Piper served as legal counsel to Renovus and Petra.
About Pragmatic Marketing
Since 1993, Pragmatic Marketing has been delivering targeted training courses to technology companies around the world. The company’s courses, taught by instructors with real-world experience leading successful product teams, are based on a proven framework for creating market-driven products people want to buy. With over 100,000 individuals trained, in over 25 countries, they are the industry standard used by successful product management and marketing organizations worldwide. Please visit www.PragmaticMarketing.com for more information.
About Renovus Capital Partners
Founded in 2010, Renovus Capital Partners is an education-focused private equity fund based outside Philadelphia with $485 million in assets under management across two funds. To date, the firm has acquired fourteen portfolio companies in verticals such as corporate training, educational content, educational technology, traditional education and human capital. The firm is particularly interested in profitable and growing enterprises where the Renovus team can partner with management to create value through acquisitions, new strategic initiatives, and operational improvements. Renovus is a licensed SBIC. For additional information on Renovus Capital Partners, see www.renovuscapital.com.
About Petra Capital Partners
Petra Capital Partners is a Nashville, TN-based private equity firm engaged in providing growth capital for technology, business services and healthcare companies located throughout the United States. Petra’s team specializes in partnering with outstanding management teams to provide creatively structured capital solutions for high growth companies in a collaborative manner. Petra has a proven track record of success assisting entrepreneurs, management teams, and co-investors in building sustainable high-growth companies. Petra’s record spans 20+ years investing more than $650 million in over 100 companies. Petra is licensed as a Small Business Investment Company (SBIC) by the U.S. Small Business Administration, and was named SBIC of the Year in 2012, after helping to create more than 8,000 jobs through our investments. For more information, please visit www.petracapital.com.