Arlington-based CEB acquires Oregon company for $275 million

Published April 5, 2016 by Robert Powell, III

Arlington-based CEB, a best-practice insight and technology company, said Tuesday that it will acquire Evanta Ventures Inc. and an affiliated business for $275 million.

Portland, Ore.-based Evanta encourages collaboration and the exchange of best-practice ideas among IT, security, human resources and finance executives through nearly 200 annual events, learning platforms and subscription information offerings.

Evanta currently works with nearly 12,000 executives annually, including representatives from more than 90 percent of Fortune 100 companies and 80 percent of the Fortune 500 firms. In recent years, Evanta has seen annual revenue growth rates in the mid-teens with a 2015 EBITDA (earnings before interest, taxes, depreciation and amortization) margin of more than of 35 percent.

CEB said Evanta is expected to complement and enhance its business strategically and operationally. The company said Evanta's business model has characteristics similar to CEB, including  strong growth, high revenue visibility and attractive margins.

CEB will fund the acquisition using up to $200 million of incremental term loan borrowings under its existing senior secured credit agreement. The remaining amount will come from CEB's available cash and/or borrowings of revolving commitments under the credit facility.

The acquisition is expected to close in the second quarter, subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the satisfaction of other customary closing conditions.