Primus Capital puts SkillSurvey on the block

  • Deal could fetch up to $200 mln: source
  • Raymond James advising Primus on sale
  • Primus made the investment in 2014

Primus Capital is selling its stake in SkillSurvey, a provider of reference assessments, three sources familiar with the process told Buyouts.

Raymond James is advising Primus on the sale, the people said. It’s unclear when the offers are due.

SkillSurvey, headquartered in Wayne, Pennsylvania, provides cloud-based solutions to help HR professionals use data and insights to more effectively recruit, hire and manage employees.

Cleveland-based Primus made a major growth investment in the company in December 2014.

SkillSurvey generated nearly $10 million Ebitda, one source said. The deal can fetch between $150 million and $200 million, the person said.

The exit would be on the larger side for Primus. The firm typically invests in companies with up to $250 million in enterprise value. Primus focuses on companies in healthcare, software and technology and tech-enabled services sectors.

The firm is investing out of Primus Capital Fund VIII, which has a target of $500 million, according to a SEC filing. It’s not clear if Fund VIII held a final close.

Representatives for Primus Capital and SkillSurvey did not respond to requests for comment.

Action Item: Contact Primus Managing Director Phillip Molner at pmolner@primuscapital.com.

Luisa Beltran contributed to this article.