[Global] H.I.G. Capital to acquire Alight’s Payroll and Professional Services Business

Global alternative investment firm H.I.G. Capital has announced that one of its affiliates has signed a definitive agreement to acquire the Payroll and Professional Services Business of Alight, Inc. for up to $1.2 billion (subject to certain adjustments), Silicon reports.

The Payroll and Professional Services Business is a global provider of technology-enabled payroll, human capital management, and professional services. It provides a full suite of 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. 

The company reportedly serves more than 1,500 blue-chip, multinational clients worldwide through its differentiated end-to-end solution offering and partnerships with leading cloud technology providers such as Workday and SAP.

Luca Saracino - Head of the Payroll and Professional Services Business - said, “We are excited to partner with H.I.G. to establish a standalone global leader in payroll and professional services. By focusing our investments and energy on enhancing our highly differentiated, end-to-end technology and service capabilities, we will be able to add significant incremental value for our clients. With H.I.G.’s support, expertise, and resources, as well as our continued commercial partnership with Alight, we are well-positioned as the partner of choice for global enterprises.” 

“We are thrilled to partner with Luca and the entire Payroll & Professional Services team,” Matt Lozow - Managing Director at H.I.G - said. “As businesses grow increasingly global and face complex technology and compliance requirements, we believe that the Company is uniquely positioned to help clients address the many challenges which this creates. We see a tremendous opportunity for continued growth and look forward to working with the team to build upon their success and leadership position in the market.”

Source: Silicon

(Quotes via original reporting)

Global alternative investment firm H.I.G. Capital has announced that one of its affiliates has signed a definitive agreement to acquire the Payroll and Professional Services Business of Alight, Inc. for up to $1.2 billion (subject to certain adjustments), Silicon reports.

The Payroll and Professional Services Business is a global provider of technology-enabled payroll, human capital management, and professional services. It provides a full suite of 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. 

The company reportedly serves more than 1,500 blue-chip, multinational clients worldwide through its differentiated end-to-end solution offering and partnerships with leading cloud technology providers such as Workday and SAP.

Luca Saracino - Head of the Payroll and Professional Services Business - said, “We are excited to partner with H.I.G. to establish a standalone global leader in payroll and professional services. By focusing our investments and energy on enhancing our highly differentiated, end-to-end technology and service capabilities, we will be able to add significant incremental value for our clients. With H.I.G.’s support, expertise, and resources, as well as our continued commercial partnership with Alight, we are well-positioned as the partner of choice for global enterprises.” 

“We are thrilled to partner with Luca and the entire Payroll & Professional Services team,” Matt Lozow - Managing Director at H.I.G - said. “As businesses grow increasingly global and face complex technology and compliance requirements, we believe that the Company is uniquely positioned to help clients address the many challenges which this creates. We see a tremendous opportunity for continued growth and look forward to working with the team to build upon their success and leadership position in the market.”

Source: Silicon

(Quotes via original reporting)