GTCR Golder Rauner, a Chicago-based private equity firm, announced Wednesday that it has agreed to make a major investment in Sorenson Communications, a Salt Lake-based provider of video relay services and equipment for the deaf and hard-of-hearing.
The deal will make GTCR the majority shareholder of Sorenson. Financial terms of the transaction, which is expected to close in November, were not disclosed.
Sorenson Communications will retain its name and its Utah headquarters.
In a statement released Wednesday, Sorenson said its current management team will remain in place and all employees will be retained. Founder James Lee Sorenson will change his role from chief executive officer to member of the company's newly created board of directors. Current Sorenson chief operating officer Patrick Nola will become the company's new CEO.