HgCapital Sells SHL to The Corporate Executive Board Company for $660 Million
04 7월 2012 - 1:40AM
Dow Jones News
HgCapital said Tuesday it has sold SHL, a U.K.-based
talent-testing company, to U.S. group The Corporate Executive Board
Company (EXBD) for $660 million.
London-based HgCapital took SHL private in a buyout worth $187
million in 2006 and subsequently merged it with Previsor, a U.S.
based competitor, in January 2011. The sale nets HgCapital over
three times the cash it put into its original acquisition and
represents a gross return of 26% for the private equity firm's
investors.
SHL provides testing for companies worldwide and counts
blue-chip corporations including Barclays PLC (BCS), Coca Cola Co.
(K)) and Hilton Worldwide among its clients. The company delivers
around 25 million talent assessments annually in over 30 languages.
It had revenue of more than $200 million last year.
"SHL is a very high quality business, recognized in its industry
as the clear global leader," said Lisa Stone, a Partner in
HgCapital's Portfolio Management team.
"The management team has done a tremendous job in growing and
developing the business and I am delighted that SHL is finding a
new home with CEB where it has a strong strategic fit," Ms. Stone
added.
CEB's client and member network includes 85% of the Fortune 500,
50% of the Dow Jones Asian Titans, and 70% of the FTSE 100. It
spans more than 50 countries, 5,700 individual organizations, and
225,000 business professionals.
Morgan Stanley (MS) ran the auction.
HgCapital Trust (HGT.LN), the listed fund managed by HgCapital,
will realize GBP27.1 million from the sale.
Write to Marietta Cauchi at marietta.cauchi@dowjones.com
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