OMERS Private Equity has agreed to acquire Alexander Mann Solutions from New Mountain Capital for an enterprise value of £820 million or US $1.1 billion. The Alexander Mann Solutions management team is also participating in the buy-out.
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. It has 4,000 employees serving over 100 clients across 85 countries.
Rosaleen Blair who founded Alexander Mann Solutions in 1996 will continue to lead the company as CEO.
New York based New Mountain Capital acquired Alexander Mann Solutions in 2013 from Graphite Capital for £260 million.
photo credit: Alexander Mann Solutions
OMERS Private Equity Announces Agreement to Purchase Alexander Mann Solutions
(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.
For Further Information:
Neil Hrab Manager, Communications – Investments
ABOUT OMERS and OMERS Private Equity
Founded in 1962, OMERS is one of Canada’s largest defined benefit pension plans, with more than $95 billion in net assets, as at December 31, 2017. OMERS invests and administers pensions for more than 482,000 members through originating and managing a diversified portfolio of investments in public markets, private equity, infrastructure and real estate.
OMERS has $10.8 billion of capital invested in private equity assets as at December 31, 2017. OMERS Private Equity, the private equity investment arm of OMERS with a team of investment professionals in London, New York, Singapore and Toronto, seeks to use its significant and differentiated capital base to partner with management teams of industry leading business. For more information, please visit www.omersprivatemarkets.com
About Alexander Mann Solutions
Alexander Mann Solutions delivers services to over 100 clients across seven industry sectors in over 85 countries. Alexander Mann Solutions is headquartered in London, has seven global client delivery service centres and employs over 4,000 people.
It has a unique Total Workforce approach encompassing clients’ permanent, contingent and internal mobility requirements. In many cases Alexander Mann Solutions teams are embedded within client organisations, a model which delivers exceptional outcomes and a measureable return on investment. Alexander Mann Solutions benefits from long term contractual relationships and enjoys a 98 per cent retention rate with its blue-chip clients.
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