Kentucky-based Tier1 Performance has acquired Bottom-Line Performance, a New Palestine-based firm that develops custom learning products that help clients teach their employees or customers.
Terms of the deal were not disclosed. The acquisition closed this week.
Husband-and-wife duo Kirk and Sharon Boller founded Bottom-Line Performance in 1995. They have grown the firm to 32 employees serving a national client base, making this Tier1’s largest acquisition to date in terms of headcount.
Tier1 officials said all of Bottom-Line Performance’s employees will be retained, and they expect to grow the local operations. The firm posted revenue of $3.9 million in 2018. Tier1 said it doesn’t yet have specific growth projections.
“Bottom-Line Performance is a natural fit for Tier1,” Greg Harmeyer, Tier1 CEO, said in a media statement. “BLP has an extremely talented team of consultants with a high focus on relationships.”
Bottom-Line Performance was ranked No. 23 on IBJ’s 2015 list of the fastest-growing companies in the Indianapolis area. It reported 2014 revenue of $2.7 million and a three-year growth rate of 72%.
At the time, both Sharon and Kirk were in their 50s and had begun succession planning, hoping to develop leadership from within the company.
“The initial draw to Tier1 was the alignment between its core values and our own. Cultural fit mattered to Kirk and me,” said Sharon, CEO of the company, in a media release. “This acquisition has enabled us to stay true to our values while also delivering on our goals of optimal solutions and an optimal workplace for our team members.”
Sharon is expected to remain with the company in a leadership position.
Founded in 2002 and based in Covington, Kentucky, Tier1 Performance is an employee-owned consulting firm that has been named to the Inc. 5000 list of America’s fastest-growing companies for 13 consecutive years.
Ranked at No. 3,855 for 2019, Tier1 reported $36.4 million in revenue for 2018 and a three-year growth rate of 86%.