Alpine Investors, a private equity firm, has completed the sale of its portfolio company, Mindful (formerly known as VHT), a leader in callback automation, to Medallia, Inc., a leader in customer and employee experience. Terms of the sale were not disclosed.
Mindful is the leading provider of callback technology for nearly 400 of the world’s leading brands, resulting in improved customer satisfaction and lower operating costs. Alpine acquired Mindful, then know as Virtual Hold Technology, in 2018 and appointed Matt DiMaria as president and CEO. Adopting Alpine’s People-First playbook, the Mindful team transformed the company, generated over 100% revenue growth for 3 consecutive years from its new SaaS offering and more than doubling overall revenue since acquiring the business.
“It has been an absolute pleasure to work with Alpine over the last four years,” said Matt DiMaria, CEO of Mindful. Matt joined the company from Alpine’s in-house talent program that recruits proven executives to lead its portfolio companies. “Today’s news begins an exciting new chapter for our clients and employees as part of Medallia. Together we are uniquely positioned to enable millions of people to get the help they need, from brands they love on the terms they choose.”
Union Square Advisors and Evercore served as financial advisors and Willkie Farr & Gallagher served as legal counsel to Mindful.