OMERS Private Equity has agreed to buy Alexander Mann Solutions from New Mountain Capital for 820 million pounds ($1.1 billion). Alexander Mann provides talent acquisition and management solutions. NM Rothschild & Sons Ltd provided financial advice to OMERS Private Equity, while Weil, Gotshal & Manges supplied legal counsel. Kirkland & Ellis provided legal advice to New Mountain.
(London, 10 May 2018) – OMERS Private Equity, the private equity investment arm of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada, has entered into an agreement with New Mountain Capital to acquire Alexander Mann Solutions (the “Company”), one of the world’s leading providers of talent acquisition and management services, for an enterprise value of £820m (USD 1.1bn).
Alexander Mann Solutions is a leading global provider of talent acquisition and management solutions delivering value to clients through a portfolio of outsourcing and consulting services. The business helps clients, typically large international businesses, to recruit and retain talent through multi-year contracts. Its 4,000 talent acquisition and management experts deliver solutions in partnership with over 100 clients across 85 countries.
OMERS will support the Alexander Mann Solutions management team and employees in deepening and expanding its sectorial and geographic focus, and invest in technology to further develop its value proposition for both new and prospective clients. OMERS will also support Alexander Mann Solutions in driving consolidation in what remains a large but still fragmented market.
The proposed transaction remains subject to customary approvals by the antitrust authorities and is expected to close in the second quarter of 2018.
“We are excited to work alongside Rosaleen and the entire Alexander Mann Solutions team to continue building on what is already an impressive culture, platform and strategy. Alexander Mann Solutions is a trusted partner to global, market leading brands in the critical area of talent management. We look forward to supporting Rosaleen and the team in extending Alexander Mann Solutions’ capabilities in the future, both organically and through acquisition,” Martin le Huray, Co‐head of OMERS Private Equity in Europe, said.
“Alexander Mann Solutions is a very strong addition to our Private Equity portfolio that we believe will create value for members of the OMERS pension plan. This investment is a perfect fit with our broader strategy of partnering with industry leaders poised for significant growth,” said Mark Redman, Executive Vice President and OMERS Global Head of Private Equity.
“OMERS partnership approach, its substantial and unconstrained capital base and its experience of supporting businesses organically and through acquisition make it an ideal partner for Alexander Mann Solutions in this next stage of our journey,” said Rosaleen Blair, CEO of Alexander Mann Solutions.
NM Rothschild & Sons Ltd acted as financial advisers to OMERS Private Equity. Weil, Gotshal & Manges LLP provided legal counsel.