New York, March 20, 2024–(BUSINESS WIRE)–HIG Capital (“HIG”), a leading global alternative investment firm with $60 billion in capital under management, one of its affiliates acquires Payroll and Professional announced that they have signed a final contract. Acquired the services business (“Payroll and Professional Services” or the “Company”) of Alight, Inc. (“Alight”, NYSE: ALIT) for up to $1.2 billion.
Our Payroll and Professional Services business is one of the world's leading providers of technology-enabled payroll, human capital management, and professional services. The company offers a complete suite of end-to-end technologies and services, including global payroll in the U.S. and multiple countries, human resources management and outsourcing services, cloud technology advisory, and deployment and application management services. Through our differentiated end-to-end solution offering and strong partnerships with leading cloud technology providers such as Workday and SAP, we serve multinational clients of over 1,500 blue-chip companies around the world. Masu.
“We are pleased to partner with HIG to establish an independent global leader in payroll and professional services. “With HIG's support, expertise and resources, and our ongoing commercial partnership with Alight, we are well positioned to be the partner of choice for global enterprises.” ,” said Luca Saracino, Head of Payroll and Professional Services. work.
“We are excited to partner with Luca and the entire Payroll and Professional Services team,” said HIG Managing Director Matt Lozow. “As companies grow increasingly global and face complex technology and compliance requirements, we We believe we are uniquely positioned to help.” “Customers are grappling with the many challenges this creates. We see significant opportunity for continued growth and look forward to working with the team to build on our success and leadership position in the market.” I am.”
Guggenheim Securities, LLC served as financial advisor and Kirkland & Ellis LLP served as legal advisor to HIG Capital. JP Morgan Securities LLC served as financial advisor and Simpson Thacher & Bartlett LLP served as legal advisor.
About payroll and professional services business
The Payroll and Professional Services business is a global leader in human capital management and payroll technology and services across the lifecycle. With more than 8,000 employees worldwide, the company provides end-to-end technology and services, including global payroll in the U.S. and multiple countries, human resources management and outsourcing services, cloud technology advisory deployment and application management services. doing. Through a wide range of differentiated services, proprietary technology and a decades-long commitment to innovation, the payroll and professional services business provides mission-critical solutions to more than 1,500 business customers in 185 countries. For more information, visit alight.com/solutions/payroll or alight.com/solutions/professional-services.
About HIG Capital
HIG Capital is one of the world's leading alternative investment firms with $60 billion in capital under management*. Based in Miami, we also have offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, New York, and San Francisco. With international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogota, Rio de Janeiro, São Paulo and Dubai, HIG provides both debt and equity financing to small and medium-sized enterprises from a flexible and operational perspective. We are specialized in providing. A focused, value-added approach:
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HIG's equity funds invest in management buyouts, recapitalizations and divestitures of both profitable and underperforming manufacturing and service industries.
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HIG's debt funds invest in senior, unitranche and junior debt financing for companies of various sizes on both a primary (direct origination) basis and in the secondary market. HIG also manages a publicly traded BDC, WhiteHorse Finance.
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HIG's real estate funds invest in value-added real estate that can benefit from improved asset management practices.
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HIG Infrastructure focuses on value-add and core-plus investments in the infrastructure sector.
Since its founding in 1993, HIG has invested in and managed more than 400 companies around the world. The company's current portfolio includes more than 100 of his companies with combined sales of more than $53 billion. For more information, visit HIG's website at hig.com.
*Based on total capital raised by HIG Capital and its affiliates.
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contact address
matt roseau
President
mlozow@hig.com
Kyle Fitzgerald
major
kfitzgerald@hig.com
