Cherry Tree Advises Integrity Solutions on its Recapitalization with Corridor Capital
“The Cherry Tree team is first class! They worked tirelessly to find the best partner for our company. I was amazed at how well they communicated and kept us informed throughout the process. Every member of the team was a joy to work with. Our owners and board are pleased and highly recommend this excellent firm.”
— Mike Esterday, CEO and Co-Owner
Provider of Corporate Sales, Customer Service and Coaching Training
Recapitalization with Financial Sponsor
In November 2023, Integrity Solutions, a provider of corporate sales, customer service and coaching training programs that equip teams to achieve their full potential, was recapitalized by Corridor Capital, a Los Angeles-based private equity firm. Integrity Solutions has more than five decades of experience providing award-winning sales and service training programs in 130 countries to industries including healthcare, financial services, manufacturing, energy, utilities, agriculture, and more.
Cherry Tree’s Role
Cherry Tree was engaged to assist the Integrity Solutions shareholders and management in finding the right partner to continue its strong growth trajectory, and it was crucial to the Board of Directors that a new partner shared the Company’s values of integrity and excellence. Cherry Tree leveraged its education experience, disciplined processes, network of potential buyers to identify and achieve a favorable outcome for the Integrity stakeholders. Cherry Tree’s customized process included introductions and discussions with numerous potential investors in marketing the opportunity, soliciting proposals, negotiating terms, supporting due diligence, and facilitating the closing of the transaction.
About Integrity Solutions
Founded in 1968 by Ron Willingham, Integrity Solutions has spent decades creating and improving a unique learning process that translates knowledge and skills into real-world behaviors. Integrity’s award-winning sales and sales leadership programs have been taught in over 130 countries, serving various industries including healthcare, financial services, manufacturing, energy, utilities, agriculture and more.
About Corridor Capital
Founded in 2005 in Los Angeles, Corridor Capital is a private equity firm specializing in mid-market companies, focusing on services and distribution sectors. They aim for sustainable growth by improving infrastructure and efficiency. Their strategy involves forming close partnerships with management, particularly in family-owned or entrepreneur-led firms, to boost operational performance. Corridor Capital typically acquires controlling interests but encourages owners to retain significant stakes, ensuring aligned interests for successful transformations.
About Cherry Tree & Associates
Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis, Minnesota. Founded in 1980, it specializes in M&A transactions for both buyers and sellers of middle market companies. Additionally, it conducts private placements for high quality, entrepreneurially managed growth companies, provides strategic advisory services for CEOs and boards of directors, and prepares fairness opinions and other valuation services.