An affiliate of HIG Capital, a global alternative investment firm with $60bn of capital under management, is to acquire the payroll and professional services business of Alight, in a deal worth up to $1.2bn.
The business to be acquired encompasses technology-enabled payroll, human capital management and professional services. Alight provides end-to-end technology and services, including US and multi-country global payroll, HR administration & outsourced services, cloud technology advisory and deployment & application managed services.
Through a differentiated end-to-end solution offering and partnerships with cloud technology providers such as Workday and SAP, the company serves over 1,500 clients globally, according to a press release.
Guggenheim Securities served as financial advisor, and Kirkland & Ellis served as legal counsel to HIG Capital. JP Morgan Securities served as financial advisor and Simpson Thacher & Bartlett served as legal counsel to Alight.
Read more: Private Equity Wire
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