A significant interest in Global LT, a Troy-based firm that provides training, translation, and mobility solutions for employee relocations, has been acquired by Los Angeles-based Vicente Capital Partners.
New York-based Abacus Finance Group served as administrative agent for nearly $16.8 million in senior secured credit facilities to support Vicente Capital Partners’ investment.
“Vicente Capital Partners shares our vision to enhance the language learning and relocation experiences of expatriates and their families and to meet the needs of increasingly global organizations,” said Lisette Poletes, Global LT’s CEO.
The company was established in 1979 in the kitchen of Hortensia Albertini, a Cuban immigrant who began offering language lessons to executives moving to Mexico for work assignments. From there, Hortensia began offering other languages and cultural training programs.
Today, Global LT is a full-service training, translation, and expatriate destination solution center with more than over 3,400 locations worldwide entities in the U.S., China, Hong Kong, Brazil, and the United Kingdom.
Tom Hanson, who was recently promoted to president of Global LT, says the partnership will allow the company to “continue to innovate and augment our integrated offerings.”
Hanson, formerly senior vice president of sales and marketing, has been with Global LT since 1993.
Jay Ferguson and Jason Beck of Vicente Capital Partners and Krishnan Ramaswami, who is an adviser to the Vicente fund, will join Global LT’s board of directors.
IN OTHER GLOBAL LT NEWS, Zoryana Lisna has been promoted to vice president of finance. She has been with the company since 2005, and previously served as controller for Global LT.