H.I.G. Capital Signs Definitive Agreement to Acquire Alight’s Payroll and Professional Services Business

H.I.G. Capital signs definitive agreement to acquire Alight’s payroll and professional services business.

H.I.G. Capital (“H.I.G.”), 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 the Payroll and Professional Services Business (“Payroll & Professional Services” or the “Company”) of Alight, Inc. (“Alight”, NYSE: ALIT) for up to $1.2 billion.

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 technology and services, including U.S. and multi-country global payroll, HR administration & outsourced services, cloud technology advisory and deployment & application managed services. Through its differentiated end-to-end solution offering and strong partnerships with leading cloud technology providers such as Workday and SAP, the Company serves more than 1,500 blue-chip, multinational clients across the world.

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“We are thrilled to partner with Luca and the entire Payroll & Professional Services team”

“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,” said Luca Saracino, Head of the Payroll and Professional Services Business.

“We are thrilled to partner with Luca and the entire Payroll & Professional Services team,” commented Matt Lozow, Managing Director at H.I.G. “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.”

Guggenheim Securities, LLC served as financial advisor, and Kirkland & Ellis LLP served as legal counsel to H.I.G. Capital. J.P. Morgan Securities LLC served as financial advisor, and Simpson Thacher & Bartlett LLP served as legal counsel to Alight.

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