TMCnet News
VSS Sells TMP WorldwideVSS, a private investment firm, announced it has completed the sale of its portfolio company, TMP Worldwide ("TMP"), a global leader in talent acquisition technologies that leverages software, strategy and creative to build talent and enhance their clients' employer brands. The business was acquired by Gemspring Capital. Financial terms of the transaction were not disclosed. VSS and management purchased TMP from Monster Worldwide in 2006. "VSS recognized a world-class management team with extraordinary client relationships as well as the potential to accelerate TMP's digital transformation, scaling its solution and service offerings," said Trent Hickman, Managing Director and member of the TMP board. "Together with management, we focused on technology, acquisitions and transforming the company into a global digital recruiting company." TalentBrew, launched in 2010, is the company's core subscription-based, multi-tenant software platform that seamlessly integrates candidate job search, employer branding, recruiter tools and advanced analytics. VSS and TMP completed four add-on acquisitions that led to a significant expansion of TMP into both Europe and Asia. "It has been a great honor for us to partner with MichelleAbbey and her team," added Trent Hickman. "What they have accomplished in developing the business over the years has been of enormous benefit to their customers, employees and shareholders. We wish them well in their next phase of growth." "VSS shared our vision for the growth and development of the company and supported us every step of the way. We look forward to the company's growth and continued expansion in partnership with Gemspring Capital," said Michelle Abbey, President and CEO of TMP Worldwide. VSS has extensive experience in the human capital management ("HCM") sector, having made six investments in the HCM sector. Raymond James acted as financial advisor to VSS and TMP Worldwide. Proskauer Rose provided legal advice to VSS and TMP Worldwide. About VSS VSS (www.vss.com) is a private investment firm that invests in the information, healthcare services, tech-enabled business services, and education industries. VSS provides capital for growth financings, recapitalizations, strategic acquisitions and buyouts to lower middle market companies and management teams with the goal of building companies organically as well as through a focused add-on acquisition program. VSS makes privately-negotiated investments across the capital structure and has the ability to invest in situations requiring control or non-control equity, mezzanine securities and structured equity securities. About TMP Worldwide TMP Worldwide is a global leader in talent acquisition technologies, committed to finding new ways to leverage software, strategy and creative to build talent and enhance our clients' employer brands - across every connection point. From healthcare to government to retail to technology and everything in between - we've revolutionized the way companies and candidates connect.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180423006143/en/ |
