MIAMI, Dec. 10, 2021 – CEO Coaching International, the leading firm for coaching growth-focused CEOs and entrepreneurs globally, is pleased to congratulate client Nitel on its new partnership with international private equity firm, Cinven. Chicago-based Nitel is a leading provider of internet connectivity and networking technology services to multi-site small and medium-sized enterprises (‘SMEs’).
According to the press release, Nitel was founded in 2003 and has quickly grown to become a leading provider for companies that have shifted to cloud-based networks and need to prioritize connectivity-driven services to support multi-site networks. The company has a robust portfolio of communications solutions and a modern platform which delivers reliable, high-performance services to its customers.
Cinven’s Technology, Media, and Telecom (“TMT”) Sector team cited Nitel’s strong growth track record as one of the reasons they found it to be an attractive investment. “The founders, Rick Stern and Ron Grason, have built an outstanding business which has consistently delivered double-digit organic growth and strong cash conversion, supported by its high proportion of recurring revenues,” the press release stated.
“Cinven shares our vision, believes in our strategy, people, partners and the culture we have built over nearly two decades, and understands the tremendous growth opportunity in front of us as the evolution of cloud and network optimization continues to accelerate. We look forward to continued success with our new partner,” said Rick Stern, CEO of Nitel.
Stern said that working closely with CEO Coaching International and using the Make Big Happen System played an instrumental role in Nitel’s success. “CEO Coaching International helped guide my decision-making for a decade while we continued to double the business every five years,” he said. “With their help we grew my company from $40 million to $175 million, ranking in the Inc. 500 fastest-growing companies and the 100 Best Places to Work for ten straight years.”
“I’ve had the pleasure of coaching Rick Stern and his team atNitelfor the past ten years,” said Mark Moses, CEO and founding partner at CEO Coaching International. “I’m extremely proud of what the Nitel team has achieved under the leadership of founders Rick and Ron. They are a great example of how rigorously following a best practices system with the right people and accountability can drive BIG growth. I look forward to seeing their next phase of growth as they leverage this exciting new partnership with Cinven.”
For more information about Nitel, visit https://www.nitelusa.com.
About CEO Coaching International
CEO Coaching International works with CEOs and their leadership teams to achieve extraordinary results quarter after quarter, year after year. Known globally for its success in coaching growth-focused entrepreneurs to meaningful exits, CEO Coaching International has coached more than 1,000 CEOs and entrepreneurs in more than 60 countries and 45 industries. The coaches at CEO Coaching International are former CEOs, presidents, or executives who have made BIG happen. The firm’s coaches have led double-digit sales and profit growth in businesses ranging in size from startups to over $10 billion, and many are founders that have led their companies through successful eight, nine, and ten-figure exits. Companies working with CEO Coaching International for two years or more have experienced an average revenue CAGR of 31% (2.6X the U.S. average) and an average EBITDA CAGR of 52.3% (more than 5X the U.S. average).
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