Private equity firm CIP Capital completed a strategic investment in Texas-based management consulting firm Sales Benchmark Index LLC.
Sales Benchmark's management team will continue to lead the firm and retain a significant ownership stake alongside CIP, as part of the transaction.
The company provides consulting, insights, research and advisory solutions to enterprise clients and private equity firms in North America and Europe.
The investment will go towards accelerating growth in specialty practice areas, client service capabilities and benchmarking solutions. The company will also selectively pursue acquisitions and plans to double its members over the next 12-18 months.
Raymond James & Associates Inc. served as financial adviser, while Foley & Lardner served as legal advisers to Sales Benchmark.
Willkie Farr and Gallagher LLP served as legal adviser to CIP.