Stage Fund Announces Closing of European Office, Promotes More Centralized Operations in U.S
DENVER - Nov. 14, 2018 - PRLog -- Stage Fund has officially announced the strategic decision to close its Ontuitive European office and centralize operations in Denver, Colorado, United States.
The process of closing down the European office has been slowly ongoing over the past year. This plan was put into motion when Stage Fund first acquired EP-OHC and its subsidiaries in November 2017. At that time, EP-OHC set a strategy to streamline overseas operations and centralize customer service in the United States.
With this move, Ontuitive UK joins Ontuitive USA under the EP-OHC umbrella as the company's two subsidiaries.
This centralized move not only allows for better customer service from Ontuitive, but also allows for better communication within Ontuitive itself. The company has grown substantially dating to its initial acquisition, and Ontuitive has established several different partnerships in the European space.
The fact of the matter is that European operations were not providing value to the overall organization and lacked the skills necessary to handle the turnaround. "This is typical," said Stage Fund CEO Daniel Frydenlund. "In my 30 years of acquiring distressed companies and growing them into successful organizations, I have not always seen the drive for productive change in many managers. This was especially the case in Ontuitive Europe. We saw abuse at a high level, and it required action."
Ontuitive continues to be a leader in technology-enabled learning services as well as the e-learning space, and this move is expected to propel the company as it heads into 2019. "Ontuitive's European presence has never been stronger, and with this decision, we feel as though our European clients will only benefit more as this company continues to grow," said Frydenlund. "Our Denver team has shown the necessary ability, leadership and dedication needed to provide for our clients, and there's certainly a bright future ahead for Ontuitive as a whole."
Ontuitive, Inc., a technology-enabled learning services company, develops and delivers performance learning solutions that support business processes, IT applications and systems, workplace learning, and organizational knowledge. It offers solutions ranging from customized performance support to off-the-shelf content, business process guidance, contextual application support, and agile lean learning. The company also provides strategic consulting, design and development, implementation, enablement, training, and desk support services. http://www.ontuitive.com/
About Stage Fund:
Stage Fund, founded in 2009 by Daniel Frydenlund, is a restructuring and growth investing private equity firm focused on acquiring controlling interests in companies undergoing change in capital structure, strategy, operations or growth, can benefit from our operational and capital approach and that have reached a point in their lifecycle presenting an opportunity for transformation. Stage Fund is headquartered in Denver, Colorado with offices in New York, New York. http://www.thestagefund.com/
Briana Milligan, CEO