Press Release
FOR IMMEDIATE RELEASE
Contact: John Elsey
President of ESI
703-558-3000
ESI International’s Parent Company, IIR, to be Purchased by UK-Based T&F Informa
(ARLINGTON, VA - June 2, 2005) -- ESI International (ESI), the leading provider of project management, contract management and business analysis training and consulting services, will soon undergo a change of ownership. ESI’s parent company, IIR, is currently in the process of being sold to T&F Informa (TFI), the leading international provider of specialist information for the academic, professional and business communities.
The current owner of IIR, Lord Irvine Laidlaw, has decided to sell his stake in the company to devote more time to his commitments in the UK House of Lords and his extensive charitable work. The process of securing a buyer has been conducted over the last six months and has now been successfully completed with the selection of TFI from a group of several potential purchasers.
“ESI is very pleased to become part of T&F Informa,” says John Elsey, President of ESI. “Our business is highly complementary with TFI and this merger will undoubtedly allow us the support and additional resources needed to continue to grow our business and to even more effectively service our many clients and customers around the world.”
The acquisition of IIR should add significantly to TFI’s events business, provide immediate critical mass in the customized performance improvement market, substantially expand TFI’s existing North American presence and further expand its geographical reach into emerging economies.
Commenting on the acquisition, Peter Rigby, T&F Informa’s Chief Executive, said: “We expect the acquisition of IIR to significantly enhance earnings. We are acquiring a complementary business which is well established in growing market sectors and which is highly cash generative. I look forward to welcoming the employees of IIR into the newly enlarged T&F Informa Group.”
About ESI International
ESI, a subsidiary of Informa plc (LSE:INF), helps people around the world improve the way they manage projects, contracts, requirements and vendors. In addition to ESI’s more than 100 courses delivered in 18 languages at more than 75 locations worldwide, ESI offers eight certificate programs through our educational partner, The George Washington University in Washington. Founded in 1981, ESI’s worldwide headquarters are in Arlington, Va, USA. To date, ESI’s programs have benefited more than 950,000 professionals worldwide.
For more information visit www.esi-intl.com