New York, March 20, 2024–(BUSINESS WIRE)– HIG Capital (“HIG”), a leading global alternative investment firm with $60 billion of capital under management, is pleased to announce that one of its affiliates has signed a definitive agreement to acquire Payroll and Professional Alight, Inc (“Alight”, NYSE: ALIT)’s $1.2 billion services business (“Payroll and Professional Services” or the “Company”).
The Payroll and Professional Services business is a leading global provider of technology-enabled payroll, human capital management and professional services. The company provides a full suite of end-to-end technologies and services, including U.S. and multi-country global payroll, HR management and outsourcing services, cloud technology consulting, and deployment and application hosting services. The company serves more than 1,500 blue-chip multinational customers around the world by delivering differentiated end-to-end solutions and strong partnerships with leading cloud technology providers such as Workday and SAP.
“We are excited to partner with HIG to build an independent global leader in payroll and professional services. By focusing our investments and efforts on enhancing our highly differentiated end-to-end technology and service capabilities, we will be able to significantly increase “With HIG’s support, expertise and resources, as well as our ongoing commercial partnership with Alight, we are well-positioned to become the partner of choice for enterprises around the world,” said Luca Saracino, head of incremental payroll and professional services. Business.
Matt Lozow, Managing Director at HIG, said: “We are delighted to be working with Luca and the entire Payroll and Professional Services team. As businesses become increasingly global and face complex technology and compliance requirements, we believe the company is uniquely positioned to help “Customers have solved many of the challenges this has created. We see tremendous opportunity for continued growth and look forward to working with the team to build on their success and leadership in the market. “
Guggenheim Securities, LLC is serving as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to HIG Capital. JP Morgan Securities LLC is serving as financial advisor to Alight, and Simpson Thacher & Bartlett LLP is serving as legal advisor to Alight.
About the Payroll and Professional Services Business
The Payroll and Professional Services business is a global leader in full lifecycle human capital management and payroll technology and services. The company has more than 8,000 employees worldwide and provides end-to-end technology and services, including global payroll, human resources management and outsourcing services in the United States and multiple countries, as well as cloud technology consulting deployment and application hosting services. The Payroll and Professional Services business leverages its differentiated service offerings, proprietary technology and decades-long commitment to innovation to deliver mission-critical solutions to more than 1,500 enterprise clients in 185 countries. For more information, visit alight.com/solutions/payroll or alight.com/solutions/professional-services.
About HIG Capital
HIG Capital is a leading global alternative investment firm with $60 billion of capital under management. *Headquartered in Miami with U.S. offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, New York and San Francisco as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogota, Rio de Janeiro, São Paulo and Dubai , HIG specializes in providing debt and equity capital to small and mid-market companies using a flexible and actionable approach. Key points/value-added methods:
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HIG’s equity funds invest in management buyouts, recapitalizations and corporate divestitures of profitable and underperforming manufacturing and services businesses.
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HIG’s debt funds invest in senior, consolidated and junior debt financings of companies of all sizes in the primary (direct origination) and secondary markets. HIG also manages a publicly traded BDC, WhiteHorse Finance.
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HIG’s real estate funds invest in value-added real estate, which can benefit from improved asset management practices.
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HIG Infrastructure focuses on value-added and core+ investments in the infrastructure sector.
Since its founding in 1993, HIG has invested in and managed more than 400 companies around the world. The firm’s current portfolio includes more than 100 companies with combined sales of more than $53 billion. For more information, please visit the HIG website at hig.com.
*Based on total capital raised by HIG Capital and its affiliates.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240315472283/en/
contact method
Matt Lozzo
managing Director
mlozow@hig.com
Kyle Fitzgerald
main
kfitzgerald@hig.com
