PHILADELPHIA and CHICAGO,Sept. 17,2024 --Richardson Sales Performance (Richardson),a leading global provider of sales training solutions,today announced its acquisition of Challenger,world-renowned for their research-based Challenger selling approach. This strategic acquisition unites two of the most influential names in the sales performance industry,creating an unparalleled powerhouse poised to deliver innovative,high-impact solutions for sales organizations worldwide.
The combination of Richardson's expertise in developing role-based sales capabilities and Challenger's distinctive approach to challenging conventional thinking in sales,marketing,and customer service teams will equip both companies' customers for greater success. Together,the two companies will offer a more comprehensive suite of solutions designed to elevate sales teams' performance and drive measurable business outcomes.
Richardson and Challenger's joint capabilities will provide customers with expanded access to best-in-class methodologies,cutting-edge technology,rich analytics,and a broader range of learning experiences. By leveraging the strengths of both organizations,customers will benefit from a more holistic approach to sales training,encompassing everything from consultative,agile selling skills to disruptive,insight-driven selling strategies.
"The combination of Richardson's proven track record in equipping sellers with a wide range of sales capabilities and Challenger's expertise in message creation and challenging conventional thinking creates a unique opportunity for our customers to develop sales teams that are both agile and differentiated," said John Elsey,CEO of Richardson Sales Performance. "We are excited to join forces with Challenger to provide an unmatched range of solutions that will empower sales professionals to thrive in an increasingly competitive environment."
The acquisition also opens up new opportunities for employees of both companies. Together,Richardson and Challenger will foster a collaborative and innovative environment where employees can access broader professional development opportunities,leverage combined resources,and contribute to shaping the future of sales training and performance improvement.
Andee Harris,CEO of Challenger,commented,"I believe that our employees are key to driving strategic success. By joining forces with Richardson,we are unlocking critical resources and capabilities that will enable us to accelerate our long-term objectives. This acquisition positions us to enhance both our competitive edge and the opportunities we can offer our team members,strengthening our ability to deliver exceptional value to our customers."
This transaction has been supported by Richardson's financial sponsor,Truelink,which was launched in 2022 by Todd Golditch and Luke Myers to work with companies in the industrials and tech-enabled services sectors. The firm's senior team brings decades of experience to their portfolio company partners,an extensive history of creating value together,and well-established strategies to improve processes,fuel growth,and enhance earnings.
Houlihan Lokey served as the exclusive financial advisor to Challenger.
About Richardson Sales Performance
Richardson is how leading sales organizations around the world are getting better results from their investment in sales training. For far too long,companies have had to deal with a big disconnect between their training and their real results in the field. We connect metrics to behaviors,training to outcomes and sellers to their best performance. For more information,visit www.richardson.com
About Challenger
Challenger is the global leader in training,technology,and consulting to win today's complex sale. The company delivers a comprehensive portfolio of solutions to sales,marketing and customer service teams. Challenger's training and consulting is provided through in-person workshops,eLearning and workflow tools,diagnostic and assessment offerings,and other sales acceleration modules. Underpinned by the world-renowned,research-based Challenger™ methodology,Challenger's solutions help enterprises adopt,develop,communicate and implement more effective commercial strategies on a global scale. For more information,visit www.challengerinc.com.
Media Contact:
Andrea Grodnitzky
Chief Marketing Officer
Richardson Sales Performance
215-940-9255
andrea.grodnitzky@richardson.com